Wellington Management Group LLP Raises Stock Position in Shoals Technologies Group, Inc. $SHLS

Wellington Management Group LLP grew its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 51.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,615,890 shares of the company’s stock after purchasing an additional 7,382,548 shares during the quarter. Wellington Management Group LLP owned 12.94% of Shoals Technologies Group worth $71,765,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SHLS. MQS Management LLC acquired a new stake in Shoals Technologies Group during the 1st quarter worth approximately $43,000. Cerity Partners LLC purchased a new position in Shoals Technologies Group in the first quarter valued at $43,000. Caitong International Asset Management Co. Ltd acquired a new position in Shoals Technologies Group during the 1st quarter worth $44,000. Virtu Financial LLC purchased a new stake in Shoals Technologies Group during the 1st quarter worth about $46,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Shoals Technologies Group during the 1st quarter worth about $64,000.

Shoals Technologies Group Price Performance

SHLS stock opened at $6.48 on Friday. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $7.00. The company has a market capitalization of $1.08 billion, a P/E ratio of 49.85, a PEG ratio of 0.71 and a beta of 1.61. The business has a 50 day simple moving average of $5.40 and a 200-day simple moving average of $4.46. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23.

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

Analyst Ratings Changes

A number of equities analysts have recently commented on SHLS shares. Guggenheim boosted their price objective on Shoals Technologies Group from $6.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, August 6th. The Goldman Sachs Group lifted their price target on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Wall Street Zen downgraded shares of Shoals Technologies Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 17th. Jefferies Financial Group raised shares of Shoals Technologies Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $4.90 to $7.20 in a research report on Monday, July 7th. Finally, Roth Capital upgraded shares of Shoals Technologies Group from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Thursday, August 7th. Fourteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Shoals Technologies Group has an average rating of “Moderate Buy” and an average price target of $9.15.

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.