LSV Asset Management Takes Position in Shoals Technologies Group, Inc. $SHLS

LSV Asset Management acquired a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 57,100 shares of the company’s stock, valued at approximately $423,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC increased its holdings in Shoals Technologies Group by 449.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock worth $31,000 after purchasing an additional 5,910 shares in the last quarter. Savant Capital LLC bought a new position in shares of Shoals Technologies Group during the second quarter worth about $50,000. Ethic Inc. bought a new position in shares of Shoals Technologies Group during the second quarter worth about $54,000. State of Alaska Department of Revenue acquired a new stake in Shoals Technologies Group in the 3rd quarter valued at approximately $54,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Shoals Technologies Group in the 1st quarter valued at approximately $57,000.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Zacks Research cut shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. UBS Group boosted their price target on shares of Shoals Technologies Group from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Needham & Company LLC began coverage on shares of Shoals Technologies Group in a research note on Wednesday, October 22nd. They set a “buy” rating and a $12.00 price objective for the company. Roth Mkm reaffirmed a “buy” rating and issued a $15.00 target price (up previously from $10.00) on shares of Shoals Technologies Group in a research report on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Shoals Technologies Group in a report on Friday, January 9th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Shoals Technologies Group presently has an average rating of “Moderate Buy” and an average price target of $9.40.

Insider Activity

In related news, CFO Dominic Bardos sold 4,170 shares of the 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 sale, the chief financial officer owned 412,289 shares in the company, valued at approximately $3,228,222.87. This represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.52% of the stock is currently owned by insiders.

Shoals Technologies Group Stock Up 4.5%

Shares of SHLS stock opened at $10.70 on Wednesday. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $11.36. 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 stock has a market cap of $1.79 billion, a price-to-earnings ratio of 53.50, a PEG ratio of 0.87 and a beta of 1.70. The firm’s 50-day moving average is $9.33 and its 200-day moving average is $8.35.

About Shoals Technologies Group

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.