Erste Asset Management GmbH Trims Position in Shoals Technologies Group, Inc. $SHLS

Erste Asset Management GmbH cut its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 16.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,755,689 shares of the company’s stock after selling 760,683 shares during the quarter. Erste Asset Management GmbH’s holdings in Shoals Technologies Group were worth $33,594,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Shoals Technologies Group by 57.7% during the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after buying an additional 1,375 shares during the last quarter. USA Financial Formulas purchased a new position in Shoals Technologies Group during the 4th quarter worth approximately $49,000. CIBC Asset Management Inc purchased a new position in Shoals Technologies Group during the 4th quarter worth approximately $85,000. Mutual Advisors LLC purchased a new position in Shoals Technologies Group during the 4th quarter worth approximately $108,000. Finally, Granahan Investment Management LLC purchased a new position in Shoals Technologies Group during the 3rd quarter worth approximately $104,000.

Shoals Technologies Group Price Performance

Shares of NASDAQ SHLS opened at $10.81 on Monday. The firm has a market cap of $1.81 billion, a PE ratio of 54.05, a PEG ratio of 1.31 and a beta of 1.89. The firm has a fifty day moving average of $8.59 and a 200 day moving average of $8.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.07 and a current ratio of 1.84. Shoals Technologies Group, Inc. has a one year low of $3.99 and a one year high of $13.18.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, May 5th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $140.56 million during the quarter, compared to analysts’ expectations of $129.16 million. Shoals Technologies Group had a net margin of 6.27% and a return on equity of 10.03%. The business’s quarterly revenue was up 74.4% compared to the same quarter last year. As a group, research analysts predict that Shoals Technologies Group, Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Shoals Technologies Group

In related news, CFO Dominic Bardos sold 54,449 shares of Shoals Technologies Group stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $8.48, for a total value of $461,727.52. Following the sale, the chief financial officer directly owned 394,979 shares in the company, valued at approximately $3,349,421.92. The trade was a 12.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SHLS shares. Weiss Ratings raised shares of Shoals Technologies Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. Wells Fargo & Company cut their target price on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Jefferies Financial Group cut their target price on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. TD Cowen reaffirmed a “buy” rating on shares of Shoals Technologies Group in a report on Tuesday, February 24th. Finally, Wall Street Zen lowered shares of Shoals Technologies Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.64.

About Shoals Technologies Group

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.