Erste Asset Management GmbH Sells 760,683 Shares of Shoals Technologies Group, Inc. $SHLS

Erste Asset Management GmbH trimmed its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 16.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,755,689 shares of the company’s stock after selling 760,683 shares during the period. Erste Asset Management GmbH owned about 2.24% of Shoals Technologies Group worth $33,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SHLS. Peconic Partners LLC grew its holdings in Shoals Technologies Group by 79.8% during the 2nd 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. UBS Group AG boosted its holdings in shares of Shoals Technologies Group by 87.6% in the 4th quarter. UBS Group AG now owns 6,140,543 shares of the company’s stock valued at $52,195,000 after buying an additional 2,867,959 shares in the last quarter. Amundi grew its position in shares of Shoals Technologies Group by 858.2% in the 3rd quarter. Amundi now owns 2,099,053 shares of the company’s stock worth $15,830,000 after buying an additional 1,879,985 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Shoals Technologies Group by 1,110.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,687,082 shares of the company’s stock worth $7,170,000 after buying an additional 1,547,651 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Shoals Technologies Group by 82.9% in the 3rd quarter. Schroder Investment Management Group now owns 3,407,848 shares of the company’s stock worth $25,252,000 after buying an additional 1,545,051 shares during the last quarter.

Insider Buying and Selling

In related news, CFO Dominic Bardos sold 54,449 shares of Shoals Technologies Group stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $8.48, for a total value of $461,727.52. Following the completion of the sale, the chief financial officer directly owned 394,979 shares in the company, valued at $3,349,421.92. This trade represents a 12.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.81% of the stock is owned by company insiders.

Shoals Technologies Group Price Performance

SHLS stock opened at $10.81 on Monday. The firm has a 50 day moving average of $8.59 and a 200 day moving average of $8.46. The stock has a market capitalization of $1.81 billion, a PE ratio of 54.05, a price-to-earnings-growth ratio of 1.31 and a beta of 1.89. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. Shoals Technologies Group, Inc. has a 52 week low of $3.99 and a 52 week high of $13.18.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on SHLS shares. Wall Street Zen downgraded shares of Shoals Technologies Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Guggenheim reaffirmed a “buy” rating on shares of Shoals Technologies Group in a research report on Friday, May 22nd. Royal Bank Of Canada cut their price objective on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Barclays cut their price objective on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Shoals Technologies Group in a research report on Tuesday, February 24th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.64.

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.