Shoals Technologies Group, Inc. $SHLS Shares Purchased by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL grew its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 83.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,025,812 shares of the company’s stock after purchasing an additional 465,968 shares during the period. Tudor Investment Corp ET AL’s holdings in Shoals Technologies Group were worth $7,601,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. State of Alaska Department of Revenue acquired a new position in shares of Shoals Technologies Group in the third quarter valued at approximately $54,000. Dynamic Technology Lab Private Ltd acquired a new stake in Shoals Technologies Group during the first quarter worth approximately $57,000. Tower Research Capital LLC TRC boosted its position in Shoals Technologies Group by 468.3% during the second quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock worth $66,000 after acquiring an additional 12,788 shares during the last quarter. American Trust purchased a new stake in Shoals Technologies Group in the 2nd quarter worth approximately $70,000. Finally, Worth Venture Partners LLC purchased a new stake in Shoals Technologies Group in the 2nd quarter worth approximately $74,000.

Shoals Technologies Group Price Performance

SHLS stock opened at $6.24 on Tuesday. The stock has a 50-day moving average price of $8.34 and a two-hundred day moving average price of $8.53. Shoals Technologies Group, Inc. has a 12-month low of $2.92 and a 12-month high of $11.36. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. The company has a market cap of $1.04 billion, a PE ratio of 31.20, a price-to-earnings-growth ratio of 0.84 and a beta of 1.77.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, February 24th. The company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $148.33 million for the quarter, compared to analyst estimates of $144.52 million. Shoals Technologies Group had a return on equity of 9.10% and a net margin of 7.06%.The business’s revenue was up 38.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.08 earnings per share. As a group, research analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SHLS shares. Jefferies Financial Group reduced their price target on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. TD Cowen reaffirmed a “buy” rating on shares of Shoals Technologies Group in a research report on Tuesday, February 24th. Barclays dropped their target price on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. UBS Group decreased their price target on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Finally, Morgan Stanley lowered their price target on Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Ten analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Shoals Technologies Group currently has an average rating of “Moderate Buy” and an average target price of $9.57.

Shoals Technologies Group Company Profile

Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.

Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.