SG Americas Securities LLC Has $6.23 Million Position in Shoals Technologies Group, Inc. $SHLS

SG Americas Securities LLC grew its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 668.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 732,648 shares of the company’s stock after purchasing an additional 637,364 shares during the period. SG Americas Securities LLC’s holdings in Shoals Technologies Group were worth $6,228,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in shares of Shoals Technologies Group by 292.5% during the 1st quarter. Royal Bank of Canada now owns 106,531 shares of the company’s stock worth $353,000 after buying an additional 79,392 shares during the last quarter. AQR Capital Management LLC raised its holdings in Shoals Technologies Group by 184.7% during the first quarter. AQR Capital Management LLC now owns 922,358 shares of the company’s stock worth $2,975,000 after acquiring an additional 598,407 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Shoals Technologies Group during the first quarter worth about $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Shoals Technologies Group by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company’s stock valued at $1,718,000 after purchasing an additional 38,983 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Shoals Technologies Group by 1.9% during the second quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock valued at $832,000 after purchasing an additional 3,601 shares during the last quarter.

Wall Street Analysts Forecast Growth

SHLS has been the topic of several recent analyst reports. Royal Bank Of Canada lowered their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. UBS Group cut their price objective on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Guggenheim decreased their target price on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Jefferies Financial Group lowered their target price on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Finally, Needham & Company LLC dropped their price target on shares of Shoals Technologies Group from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.57.

Shoals Technologies Group Stock Up 5.3%

SHLS stock opened at $6.58 on Wednesday. Shoals Technologies Group, Inc. has a 1-year low of $2.92 and a 1-year high of $11.36. The business’s 50 day simple moving average is $8.02 and its 200 day simple moving average is $8.52. 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 firm has a market capitalization of $1.10 billion, a PE ratio of 32.90, a PEG ratio of 0.86 and a beta of 1.77.

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

Shoals Technologies Group 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.