Cidel Asset Management Inc. Grows Position in Shoals Technologies Group, Inc. $SHLS

Cidel Asset Management Inc. grew its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 34.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 92,875 shares of the company’s stock after buying an additional 24,023 shares during the period. Cidel Asset Management Inc. owned 0.06% of Shoals Technologies Group worth $395,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Cerity Partners LLC purchased a new stake in shares of Shoals Technologies Group in the first quarter valued at $43,000. MQS Management LLC purchased a new stake in shares of Shoals Technologies Group in the first quarter valued at $43,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Shoals Technologies Group in the first quarter valued at $44,000. Virtu Financial LLC purchased a new stake in shares of Shoals Technologies Group in the first quarter valued at $46,000. Finally, FORA Capital LLC purchased a new stake in shares of Shoals Technologies Group in the first quarter valued at $51,000.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on SHLS shares. Guggenheim lifted their price objective on Shoals Technologies Group from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. UBS Group lifted their price objective on Shoals Technologies Group from $7.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. The Goldman Sachs Group lifted their price objective on Shoals Technologies Group from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. Mizuho cut Shoals Technologies Group from an “outperform” rating to a “neutral” rating and set a $7.00 target price on the stock. in a report on Monday, July 14th. Finally, Roth Capital upgraded Shoals Technologies Group from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Thursday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Shoals Technologies Group has a consensus rating of “Moderate Buy” and a consensus target price of $7.79.

Shoals Technologies Group Price Performance

Shares of Shoals Technologies Group stock opened at $9.95 on Monday. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $11.31. The stock has a market capitalization of $1.67 billion, a P/E ratio of 76.54, a PEG ratio of 1.19 and a beta of 1.65. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. The business’s fifty day moving average price is $7.29 and its 200 day moving average price is $5.63.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $110.84 million for the quarter, compared to analysts’ expectations of $104.87 million. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The firm’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Shoals Technologies Group Profile

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.