Financial Enhancement Group LLC Acquires New Stake in Shoals Technologies Group, Inc. $SHLS

Financial Enhancement Group LLC bought a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 112,238 shares of the company’s stock, valued at approximately $832,000. Financial Enhancement Group LLC owned about 0.07% of Shoals Technologies Group at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SHLS. Encompass Capital Advisors LLC bought a new position in shares of Shoals Technologies Group during the 2nd quarter worth $56,120,000. Wellington Management Group LLP increased its stake in shares of Shoals Technologies Group by 51.9% in the first quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company’s stock worth $71,765,000 after purchasing an additional 7,382,548 shares in the last quarter. Peconic Partners LLC raised its position in shares of Shoals Technologies Group by 79.8% in the second quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock valued at $29,645,000 after purchasing an additional 3,095,186 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Shoals Technologies Group during the 1st quarter valued at approximately $7,712,000. Finally, Electron Capital Partners LLC lifted its stake in shares of Shoals Technologies Group by 1,716.1% during the 2nd quarter. Electron Capital Partners LLC now owns 1,976,633 shares of the company’s stock valued at $8,401,000 after buying an additional 1,867,795 shares in the last quarter.

Insider Buying and Selling

In other news, CFO Dominic Bardos sold 4,170 shares of the stock in a transaction 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 owned 412,289 shares of the company’s stock, valued at $3,228,222.87. This represents a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.67% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on SHLS. The Goldman Sachs Group lifted their price objective on shares of Shoals Technologies Group from $8.00 to $11.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. JPMorgan Chase & Co. lifted their price target on Shoals Technologies Group from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Wells Fargo & Company increased their price objective on Shoals Technologies Group from $6.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Zacks Research downgraded Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Finally, Morgan Stanley reiterated 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. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.76.

Shoals Technologies Group Price Performance

Shares of NASDAQ SHLS opened at $8.96 on Friday. The stock’s 50-day simple moving average is $9.02 and its two-hundred day simple moving average is $7.13. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $11.36. The firm has a market capitalization of $1.50 billion, a P/E ratio of 44.80, a P/E/G ratio of 1.07 and a beta of 1.71. The company has a quick ratio of 1.53, a current ratio of 2.19 and a debt-to-equity ratio of 0.21.

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

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.