Thrivent Financial for Lutherans Sells 134,732 Shares of Shoals Technologies Group, Inc. $SHLS

Thrivent Financial for Lutherans reduced its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 61.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,666 shares of the company’s stock after selling 134,732 shares during the period. Thrivent Financial for Lutherans’ holdings in Shoals Technologies Group were worth $620,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada increased its holdings in shares of Shoals Technologies Group by 292.5% during the 1st quarter. Royal Bank of Canada now owns 106,531 shares of the company’s stock valued at $353,000 after acquiring an additional 79,392 shares during the last quarter. AQR Capital Management LLC boosted its position in Shoals Technologies Group by 184.7% during the first quarter. AQR Capital Management LLC now owns 922,358 shares of the company’s stock worth $2,975,000 after purchasing an additional 598,407 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Shoals Technologies Group during the first quarter worth approximately $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Shoals Technologies Group by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company’s stock valued at $1,718,000 after purchasing an additional 38,983 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of Shoals Technologies Group by 43.4% in the second 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 period.

Analyst Upgrades and Downgrades

SHLS has been the subject of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of Shoals Technologies Group from $6.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Morgan Stanley reissued an “equal weight” rating and set a $9.50 target price (down previously from $11.00) on shares of Shoals Technologies Group in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Shoals Technologies Group in a research report on Friday, January 9th. Roth Mkm reiterated a “buy” rating and issued a $15.00 price objective (up from $10.00) on shares of Shoals Technologies Group in a research note on Wednesday, November 5th. Finally, Needham & Company LLC assumed coverage on Shoals Technologies Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $12.00 price objective for the company. Ten analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Shoals Technologies Group has an average rating of “Moderate Buy” and an average target price of $9.40.

Insider Activity

In related news, CFO Dominic Bardos sold 4,170 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $7.83, for a total value of $32,651.10. Following the completion of the transaction, the chief financial officer directly owned 412,289 shares of the company’s stock, valued at $3,228,222.87. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Shoals Technologies Group Stock Up 6.0%

SHLS stock opened at $10.24 on Tuesday. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $11.36. The company has a quick ratio of 1.53, a current ratio of 2.19 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.71 billion, a PE ratio of 51.20, a price-to-earnings-growth ratio of 0.87 and a beta of 1.70. The business’s 50-day simple moving average is $9.28 and its 200 day simple moving average is $8.31.

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.