Assenagon Asset Management S.A. Has $1.24 Million Holdings in Shoals Technologies Group, Inc. $SHLS

Assenagon Asset Management S.A. trimmed its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 51.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 166,824 shares of the company’s stock after selling 177,311 shares during the period. Assenagon Asset Management S.A.’s holdings in Shoals Technologies Group were worth $1,236,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC lifted its position in shares of Shoals Technologies Group by 449.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock valued at $31,000 after acquiring an additional 5,910 shares during the period. Savant Capital LLC bought a new stake in Shoals Technologies Group in the second quarter valued at $50,000. FORA Capital LLC acquired a new position in shares of Shoals Technologies Group during the first quarter valued at about $51,000. Ethic Inc. bought a new position in shares of Shoals Technologies Group during the 2nd quarter worth about $54,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Shoals Technologies Group during the 1st quarter worth about $57,000.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SHLS shares. JPMorgan Chase & Co. upped their price target on Shoals Technologies Group from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Shoals Technologies Group in a report on Tuesday, October 14th. Roth Capital restated a “buy” rating and set a $15.00 price target (up previously from $10.00) on shares of Shoals Technologies Group in a research note on Wednesday, November 5th. The Goldman Sachs Group raised 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. Finally, Zacks Research cut shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Twelve equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.76.

Shoals Technologies Group Trading Down 0.3%

Shares of SHLS stock opened at $9.09 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.19. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 45.43, a PEG ratio of 1.13 and a beta of 1.71. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $11.36. The company has a 50-day simple moving average of $8.97 and a two-hundred day simple moving average of $7.23.

Shoals Technologies Group (NASDAQ:SHLS) last announced its earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. The firm had revenue of $135.80 million for 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%. Research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Shoals Technologies Group news, CFO Dominic Bardos sold 4,170 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $7.83, for a total value of $32,651.10. Following the completion of the transaction, the chief financial officer owned 412,289 shares in the company, valued at $3,228,222.87. This represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.67% of the company’s stock.

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.