Harbor Capital Advisors Inc. Has $436,000 Stock Position in Shoals Technologies Group, Inc. $SHLS

Harbor Capital Advisors Inc. raised its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 5,634.6% during the third quarter, HoldingsChannel reports. The firm owned 58,837 shares of the company’s stock after acquiring an additional 57,811 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Shoals Technologies Group were worth $436,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of SHLS. Encompass Capital Advisors LLC bought a new stake in shares of Shoals Technologies Group during the 2nd quarter worth $56,120,000. Peconic Partners LLC raised its stake in Shoals Technologies Group by 79.8% during the second quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock worth $29,645,000 after acquiring an additional 3,095,186 shares in the last quarter. Geode Capital Management LLC raised its stake in Shoals Technologies Group by 3.6% during the second quarter. Geode Capital Management LLC now owns 4,213,350 shares of the company’s stock worth $17,909,000 after acquiring an additional 146,628 shares in the last quarter. Redwood Grove Capital LLC lifted its holdings in shares of Shoals Technologies Group by 8.3% in the second quarter. Redwood Grove Capital LLC now owns 3,264,805 shares of the company’s stock worth $13,875,000 after acquiring an additional 250,000 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its stake in shares of Shoals Technologies Group by 7.1% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 3,075,358 shares of the company’s stock valued at $13,070,000 after purchasing an additional 203,504 shares in the last quarter.

Shoals Technologies Group Stock Performance

Shares of Shoals Technologies Group stock opened at $9.21 on Monday. The stock has a market cap of $1.54 billion, a price-to-earnings ratio of 46.05, a P/E/G ratio of 1.15 and a beta of 1.71. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $11.36. The company’s fifty day moving average is $8.93 and its 200 day moving average is $7.30. 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 announced its earnings results on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. Shoals Technologies Group had a return on equity of 8.50% and a net margin of 7.66%.The firm had revenue of $135.80 million for the quarter, compared to the consensus estimate of $131.37 million. Sell-side analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Insider Activity at Shoals Technologies Group

In related news, CFO Dominic Bardos sold 4,170 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer directly owned 412,289 shares in the company, valued at $3,228,222.87. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.52% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price objective on shares of Shoals Technologies Group from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Zacks Research downgraded shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Guggenheim raised their price objective on Shoals Technologies Group from $8.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Roth Capital restated a “buy” rating and set a $15.00 price objective (up previously from $10.00) on shares of Shoals Technologies Group in a research report on Wednesday, November 5th. Finally, UBS Group increased their target price on Shoals Technologies Group from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Twelve equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $8.76.

Shoals Technologies Group 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.