Swedbank AB Increases Stock Holdings in Shoals Technologies Group, Inc. $SHLS

Swedbank AB boosted its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 28.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,024,545 shares of the company’s stock after purchasing an additional 227,100 shares during the period. Swedbank AB’s holdings in Shoals Technologies Group were worth $8,709,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SHLS. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in shares of Shoals Technologies Group by 3.7% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,055 shares of the company’s stock valued at $274,000 after buying an additional 1,147 shares during the period. GAMMA Investing LLC boosted its stake in shares of Shoals Technologies Group by 57.7% in the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after buying an additional 1,375 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Shoals Technologies Group by 14.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,616 shares of the company’s stock valued at $123,000 after buying an additional 2,047 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Shoals Technologies Group by 13.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 20,200 shares of the company’s stock valued at $86,000 after buying an additional 2,316 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Shoals Technologies Group by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock valued at $832,000 after buying an additional 3,601 shares during the period.

Analyst Ratings Changes

Several brokerages have recently issued reports on SHLS. UBS Group lifted their price objective on Shoals Technologies Group from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Roth Mkm decreased their price objective on Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Wall Street Zen cut Shoals Technologies Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price objective on shares of Shoals Technologies Group in a research note on Wednesday, May 6th. Finally, Citigroup lifted their price objective on Shoals Technologies Group from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.64.

Insiders Place Their Bets

In related news, CFO Dominic Bardos sold 54,449 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $8.48, for a total transaction of $461,727.52. Following the completion of the sale, the chief financial officer owned 394,979 shares in the company, valued at $3,349,421.92. The trade was a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.81% of the stock is currently owned by insiders.

Shoals Technologies Group Price Performance

SHLS stock opened at $10.82 on Wednesday. The business has a 50 day moving average price of $7.65 and a 200 day moving average price of $8.27. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 54.10, a PEG ratio of 1.20 and a beta of 1.74. Shoals Technologies Group, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $11.36. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $140.56 million during the quarter, compared to analysts’ expectations of $129.16 million. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The business’s revenue was up 74.4% on a year-over-year basis. Equities research analysts anticipate that Shoals Technologies Group, Inc. will post 0.34 earnings per share for the current fiscal 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.