Hussman Strategic Advisors Inc. Purchases New Stake in Shoals Technologies Group, Inc. $SHLS

Hussman Strategic Advisors Inc. acquired a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 105,000 shares of the company’s stock, valued at approximately $778,000. Hussman Strategic Advisors Inc. owned 0.06% of Shoals Technologies Group at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Shoals Technologies Group by 14.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,616 shares of the company’s stock worth $123,000 after buying an additional 2,047 shares during the period. Canada Pension Plan Investment Board lifted its position in Shoals Technologies Group by 13.0% during the second quarter. Canada Pension Plan Investment Board now owns 20,200 shares of the company’s stock worth $86,000 after acquiring an additional 2,316 shares during the last quarter. AE Wealth Management LLC lifted its position in Shoals Technologies Group by 8.6% during the second quarter. AE Wealth Management LLC now owns 34,568 shares of the company’s stock worth $147,000 after acquiring an additional 2,743 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Shoals Technologies Group by 1.9% during the second quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock worth $832,000 after acquiring an additional 3,601 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of Shoals Technologies Group by 19.5% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 30,908 shares of the company’s stock valued at $229,000 after purchasing an additional 5,050 shares during the last quarter.

Shoals Technologies Group Stock Up 6.1%

Shares of NASDAQ SHLS opened at $10.15 on Thursday. The stock has a market capitalization of $1.70 billion, a P/E ratio of 50.75, a PEG ratio of 0.81 and a beta of 1.70. The stock’s fifty day moving average is $8.75 and its 200 day moving average is $7.91. Shoals Technologies Group, Inc. has a 52 week low of $2.71 and a 52 week high of $11.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.19.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $135.80 million for the quarter, compared to the consensus estimate of $131.37 million. Shoals Technologies Group had a net margin of 7.66% and a return on equity of 8.50%. Sell-side analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Shoals Technologies Group

In related news, CFO Dominic Bardos sold 4,170 shares of Shoals Technologies Group stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $7.83, for a total value of $32,651.10. Following the transaction, the chief financial officer directly owned 412,289 shares of the company’s stock, valued at $3,228,222.87. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.52% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on SHLS. Zacks Research cut Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Barclays raised Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $7.00 to $10.00 in a report on Thursday, October 2nd. UBS Group upped their price target on shares of Shoals Technologies Group from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $9.50 price target (down from $11.00) on shares of Shoals Technologies Group in a research report on Tuesday, December 16th. Finally, The Goldman Sachs Group boosted their price objective on shares of Shoals Technologies Group from $8.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Ten research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Shoals Technologies Group has an average rating of “Moderate Buy” and an average target price of $9.40.

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.