Shoals Technologies Group, Inc. $SHLS Shares Sold by Sei Investments Co.

Sei Investments Co. reduced its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 33.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,715 shares of the company’s stock after selling 89,216 shares during the quarter. Sei Investments Co.’s holdings in Shoals Technologies Group were worth $1,156,000 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 stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Shoals Technologies Group by 151.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,753,784 shares of the company’s stock worth $108,410,000 after acquiring an additional 7,685,515 shares during the period. First Trust Advisors LP grew its holdings in shares of Shoals Technologies Group by 1,493.0% in the fourth quarter. First Trust Advisors LP now owns 6,331,682 shares of the company’s stock valued at $53,819,000 after purchasing an additional 5,934,223 shares during the period. Castle Hook Partners LP purchased a new stake in shares of Shoals Technologies Group in the fourth quarter valued at about $40,095,000. Amundi increased its position in Shoals Technologies Group by 175.2% during the fourth quarter. Amundi now owns 5,776,766 shares of the company’s stock worth $49,075,000 after purchasing an additional 3,677,713 shares during the last quarter. Finally, Peconic Partners LLC increased its position in Shoals Technologies Group by 79.8% during the second quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock worth $29,645,000 after purchasing an additional 3,095,186 shares during the last quarter.

Wall Street Analyst Weigh In

SHLS has been the topic of several recent analyst reports. UBS Group boosted their target price on shares of Shoals Technologies Group from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Royal Bank Of Canada lifted their price target on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Weiss Ratings upgraded Shoals Technologies Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 4th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Shoals Technologies Group in a research report on Wednesday, May 6th. Finally, Wall Street Zen upgraded Shoals Technologies Group from a “hold” rating to a “buy” rating in a research report on Saturday. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.71.

Shoals Technologies Group Stock Performance

Shares of Shoals Technologies Group stock opened at $8.73 on Wednesday. The business has a 50-day moving average of $9.89 and a 200 day moving average of $8.83. Shoals Technologies Group, Inc. has a 12 month low of $4.43 and a 12 month high of $13.18. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 45.95, a price-to-earnings-growth ratio of 1.04 and a beta of 1.93. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.25 and a quick ratio of 1.12.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $163.37 million for the quarter, compared to analyst estimates of $160.03 million. Shoals Technologies Group had a net margin of 5.41% and a return on equity of 10.07%. The business’s revenue for the quarter was up 47.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. As a group, sell-side analysts forecast that Shoals Technologies Group, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Shoals Technologies Group

In related news, insider Bobbie Lee King, Jr. sold 10,000 shares of Shoals Technologies Group stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total value of $104,100.00. Following the completion of the transaction, the insider owned 98,918 shares in the company, valued at approximately $1,029,736.38. The trade was a 9.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.81% of the company’s stock.

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.