Financial Enhancement Group LLC Takes $832,000 Position in Shoals Technologies Group, Inc. $SHLS

Financial Enhancement Group LLC acquired a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the third quarter, HoldingsChannel reports. The fund acquired 112,238 shares of the company’s stock, valued at approximately $832,000.

Other hedge funds also recently bought and sold shares of the company. Canada Pension Plan Investment Board boosted its stake in Shoals Technologies Group by 13.0% in the second quarter. Canada Pension Plan Investment Board now owns 20,200 shares of the company’s stock worth $86,000 after buying an additional 2,316 shares in the last quarter. AE Wealth Management LLC lifted its holdings in shares of Shoals Technologies Group by 8.6% in the 2nd quarter. AE Wealth Management LLC now owns 34,568 shares of the company’s stock worth $147,000 after acquiring an additional 2,743 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Shoals Technologies Group by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock valued at $832,000 after purchasing an additional 3,601 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Shoals Technologies Group by 43.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,569 shares of the company’s stock valued at $62,000 after purchasing an additional 4,412 shares during the last quarter. Finally, Pallas Capital Advisors LLC grew its holdings in shares of Shoals Technologies Group by 27.7% during the 2nd quarter. Pallas Capital Advisors LLC now owns 24,517 shares of the company’s stock valued at $104,000 after purchasing an additional 5,320 shares during the last quarter.

Insiders Place Their Bets

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

Shoals Technologies Group Trading Up 3.7%

SHLS opened at $8.96 on Friday. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $11.36. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.19 and a quick ratio of 1.53. The business has a 50 day simple moving average of $9.02 and a two-hundred day simple moving average of $7.13. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 44.80, a PEG ratio of 1.07 and a beta of 1.71.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $131.37 million. Analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on SHLS shares. The Goldman Sachs Group boosted their price target on shares of Shoals Technologies Group from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Morgan Stanley restated an “equal weight” rating and set a $9.50 target price (down from $11.00) on shares of Shoals Technologies Group in a report on Tuesday. Barclays raised Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $7.00 to $10.00 in a research note on Thursday, October 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Shoals Technologies Group in a research note on Tuesday, October 14th. Finally, Jefferies Financial Group raised their target price on shares of Shoals Technologies Group from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Twelve investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Shoals Technologies Group has a consensus rating of “Hold” and a consensus 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.