Caxton Associates LLP Sells 81,204 Shares of Shoals Technologies Group, Inc. $SHLS

Caxton Associates LLP decreased its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 40.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 118,137 shares of the company’s stock after selling 81,204 shares during the quarter. Caxton Associates LLP’s holdings in Shoals Technologies Group were worth $777,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in Shoals Technologies Group by 292.5% in the first quarter. Royal Bank of Canada now owns 106,531 shares of the company’s stock worth $353,000 after acquiring an additional 79,392 shares during the period. AQR Capital Management LLC grew its position in shares of Shoals Technologies Group by 184.7% during the 1st quarter. AQR Capital Management LLC now owns 922,358 shares of the company’s stock valued at $2,975,000 after acquiring an additional 598,407 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Shoals Technologies Group in the 1st quarter worth $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Shoals Technologies Group by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company’s stock worth $1,718,000 after purchasing an additional 38,983 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Shoals Technologies Group by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock worth $832,000 after purchasing an additional 3,601 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SHLS shares. Wells Fargo & Company lifted their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, June 11th. UBS Group upped their price target on Shoals Technologies Group from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Guggenheim reaffirmed a “buy” rating on shares of Shoals Technologies Group in a research note on Friday, May 22nd. JPMorgan Chase & Co. lifted their price objective on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Shoals Technologies Group in a research note on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Shoals Technologies Group has an average rating of “Moderate Buy” and a consensus price target of $10.46.

Shoals Technologies Group Stock Performance

Shares of Shoals Technologies Group stock opened at $9.39 on Monday. The company has a market capitalization of $1.57 billion, a P/E ratio of 46.95, a P/E/G ratio of 1.14 and a beta of 1.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.07 and a current ratio of 1.84. The company has a fifty day moving average of $10.38 and a 200 day moving average of $8.86. Shoals Technologies Group, Inc. has a fifty-two week low of $4.43 and a fifty-two week high of $13.18.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $140.56 million during the quarter, compared to analyst estimates of $129.16 million. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The company’s revenue was up 74.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Shoals Technologies Group, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Shoals Technologies Group

In related news, CFO Dominic Bardos sold 54,449 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $8.48, for a total value of $461,727.52. Following the transaction, the chief financial officer directly owned 394,979 shares of the company’s stock, valued at approximately $3,349,421.92. The trade was a 12.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bobbie Lee King, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $10.41, for a total value of $104,100.00. Following the completion of the transaction, the insider directly owned 98,918 shares in the company, valued at approximately $1,029,736.38. This represents a 9.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.81% of the company’s stock.

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.