Connor Clark & Lunn Investment Management Ltd. Acquires New Stake in Shoals Technologies Group, Inc. $SHLS

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 131,253 shares of the company’s stock, valued at approximately $558,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Shoals Technologies Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SHLS. Nisa Investment Advisors LLC increased its stake in shares of Shoals Technologies Group by 449.1% in the second quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock worth $31,000 after acquiring an additional 5,910 shares during the last quarter. Savant Capital LLC acquired a new position in Shoals Technologies Group in the 2nd quarter worth about $50,000. Ethic Inc. acquired a new position in Shoals Technologies Group in the 2nd quarter worth about $54,000. Cerity Partners LLC purchased a new stake in shares of Shoals Technologies Group during the 1st quarter worth about $43,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Shoals Technologies Group during the 1st quarter valued at about $44,000.

Analysts Set New Price Targets

A number of equities analysts recently commented on SHLS shares. Needham & Company LLC initiated coverage on Shoals Technologies Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $12.00 price objective on the stock. Guggenheim increased their price target on shares of Shoals Technologies Group from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Jefferies Financial Group lifted their price objective on shares of Shoals Technologies Group from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Monday, September 8th. UBS Group upped their price objective on shares of Shoals Technologies Group from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Finally, Morgan Stanley increased their target price on shares of Shoals Technologies Group from $7.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $8.70.

Shoals Technologies Group Stock Up 1.4%

Shoals Technologies Group stock opened at $8.09 on Thursday. The firm has a fifty day moving average price of $8.83 and a two-hundred day moving average price of $6.61. Shoals Technologies Group, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $11.36. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 40.45, a P/E/G ratio of 0.99 and a beta of 1.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.19 and a quick ratio of 1.53.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. Shoals Technologies Group had a net margin of 7.66% and a return on equity of 8.50%. The company had revenue of $135.80 million for the quarter, compared to the consensus estimate of $131.37 million. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Shoals Technologies Group Company 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.