Cookson Peirce & Co. Inc. Takes $1.15 Million Position in Shoals Technologies Group, Inc. $SHLS

Cookson Peirce & Co. Inc. acquired a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the third quarter, HoldingsChannel reports. The firm acquired 155,616 shares of the company’s stock, valued at approximately $1,153,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd increased its stake in Shoals Technologies Group by 815.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 157,946 shares of the company’s stock valued at $671,000 after buying an additional 140,696 shares during the period. Ruffer LLP bought a new stake in shares of Shoals Technologies Group during the 3rd quarter worth about $2,735,000. Financial Enhancement Group LLC acquired a new stake in shares of Shoals Technologies Group in the 3rd quarter worth approximately $832,000. American Century Companies Inc. boosted its holdings in shares of Shoals Technologies Group by 128.3% in the second quarter. American Century Companies Inc. now owns 2,754,266 shares of the company’s stock valued at $11,706,000 after acquiring an additional 1,548,094 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in shares of Shoals Technologies Group during the third quarter valued at approximately $1,546,000.

Shoals Technologies Group Price Performance

Shares of NASDAQ:SHLS opened at $10.24 on Friday. The company has a market capitalization of $1.71 billion, a PE ratio of 51.20, a price-to-earnings-growth ratio of 0.82 and a beta of 1.70. 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 fifty day moving average of $9.23 and a 200-day moving average of $8.24. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $11.36.

Insider Activity

In other news, CFO Dominic Bardos sold 4,170 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $7.83, for a total transaction of $32,651.10. Following the completion of the sale, the chief financial officer directly owned 412,289 shares of the company’s stock, valued at $3,228,222.87. This represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.67% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SHLS has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Shoals Technologies Group in a research report on Friday, January 9th. Roth Mkm reissued a “buy” rating and issued a $15.00 price objective (up previously from $10.00) on shares of Shoals Technologies Group in a research note on Wednesday, November 5th. Zacks Research lowered Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Needham & Company LLC began coverage on Shoals Technologies Group in a report on Wednesday, October 22nd. They set a “buy” rating and a $12.00 target price on the stock. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Shoals Technologies Group in a research report on Monday. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.40.

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.