Voya Investment Management LLC Has $7.14 Million Position in Shoals Technologies Group, Inc. $SHLS

Voya Investment Management LLC increased its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 1,970.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 963,930 shares of the company’s stock after buying an additional 917,380 shares during the quarter. Voya Investment Management LLC’s holdings in Shoals Technologies Group were worth $7,143,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its holdings in shares of Shoals Technologies Group by 449.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock worth $31,000 after buying an additional 5,910 shares in the last quarter. Savant Capital LLC bought a new stake in Shoals Technologies Group in the second quarter valued at $50,000. Ethic Inc. acquired a new position in Shoals Technologies Group during the second quarter worth $54,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Shoals Technologies Group by 43.4% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,569 shares of the company’s stock valued at $62,000 after acquiring an additional 4,412 shares during the period. Finally, FORA Capital LLC acquired a new stake in shares of Shoals Technologies Group in the 1st quarter valued at $51,000.

Shoals Technologies Group Stock Performance

Shares of Shoals Technologies Group stock opened at $9.09 on Thursday. 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 capitalization of $1.52 billion, a price-to-earnings ratio of 45.43, a PEG ratio of 1.13 and a beta of 1.71. The firm has a fifty day moving average of $8.97 and a two-hundred day moving average of $7.23.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 EPS 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 business had revenue of $135.80 million during the quarter, compared to analysts’ expectations of $131.37 million. As a group, equities research analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SHLS shares. The Goldman Sachs Group increased their target price on shares of Shoals Technologies Group from $8.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Zacks Research lowered shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Guggenheim lifted their price objective on Shoals Technologies Group from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Barclays upgraded shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $7.00 to $10.00 in a research report on Thursday, October 2nd. Finally, Jefferies Financial Group upped their price objective on Shoals Technologies Group from $6.00 to $9.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Twelve analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Shoals Technologies Group presently has an average rating of “Hold” and an average price target of $8.76.

Insider Buying and Selling

In other Shoals Technologies Group news, CFO Dominic Bardos sold 4,170 shares of the stock in a transaction on Friday, December 5th. The shares were 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 approximately $3,228,222.87. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.67% of the company’s stock.

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.