807,050 Shares in Shoals Technologies Group, Inc. $SHLS Purchased by Hel Ved Capital Management Ltd

Hel Ved Capital Management Ltd acquired a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 807,050 shares of the company’s stock, valued at approximately $6,860,000. Shoals Technologies Group makes up about 1.8% of Hel Ved Capital Management Ltd’s holdings, making the stock its 15th biggest holding.

A number of other large investors have also added to or reduced their stakes in SHLS. GAMMA Investing LLC boosted its position in Shoals Technologies Group by 57.7% during the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after purchasing an additional 1,375 shares during the period. USA Financial Formulas bought a new position in Shoals Technologies Group during the fourth quarter worth about $49,000. Dynamic Technology Lab Private Ltd bought a new position in Shoals Technologies Group during the first quarter worth about $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 purchasing an additional 12,788 shares during the period. Finally, CIBC Asset Management Inc bought a new position in Shoals Technologies Group during the fourth quarter worth about $85,000.

Shoals Technologies Group Price Performance

SHLS stock opened at $10.43 on Friday. The firm has a 50 day moving average of $8.93 and a 200-day moving average of $8.53. The company has a current ratio of 1.84, a quick ratio of 1.07 and a debt-to-equity ratio of 0.30. Shoals Technologies Group, Inc. has a 12 month low of $3.99 and a 12 month high of $13.18. The firm has a market capitalization of $1.75 billion, a P/E ratio of 52.15, a price-to-earnings-growth ratio of 1.20 and a beta of 1.90.

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

Insider Activity at Shoals Technologies Group

In other news, CFO Dominic Bardos sold 54,449 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $8.48, for a total value of $461,727.52. Following the completion of the transaction, the chief financial officer directly owned 394,979 shares in the company, valued at approximately $3,349,421.92. This trade represents a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SHLS shares. UBS Group increased their target price on shares of Shoals Technologies Group from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Roth Mkm cut their target price on shares of Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. JPMorgan Chase & Co. increased their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Citigroup increased their target price on shares of Shoals Technologies Group from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company increased their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.71.

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.