Hussman Strategic Advisors Inc. Acquires New Shares in Shoals Technologies Group, Inc. $SHLS

Hussman Strategic Advisors Inc. bought a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the third quarter, HoldingsChannel.com reports. The firm bought 105,000 shares of the company’s stock, valued at approximately $778,000.

Other institutional investors have also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd increased its holdings in shares of Shoals Technologies Group by 815.6% during the second quarter. Dynamic Technology Lab Private Ltd now owns 157,946 shares of the company’s stock worth $671,000 after buying an additional 140,696 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Shoals Technologies Group by 128.3% during the 2nd 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. Financial Enhancement Group LLC bought a new stake in Shoals Technologies Group during the 3rd quarter worth $832,000. Schroder Investment Management Group acquired a new position in Shoals Technologies Group in the 2nd quarter worth about $7,917,000. Finally, Swedbank AB raised its position in Shoals Technologies Group by 203.9% in the third quarter. Swedbank AB now owns 797,445 shares of the company’s stock valued at $5,909,000 after purchasing an additional 535,000 shares during the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SHLS. UBS Group boosted their price target on Shoals Technologies Group from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. The Goldman Sachs Group lifted 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. Barclays upgraded shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $7.00 to $10.00 in a research report on Thursday, October 2nd. Zacks Research lowered shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Finally, Wells Fargo & Company boosted 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 research note on Thursday, November 6th. Ten equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.40.

Shoals Technologies Group Stock Up 6.1%

Shares of NASDAQ SHLS opened at $10.15 on Thursday. The company has a market capitalization of $1.70 billion, a P/E ratio of 50.75, a price-to-earnings-growth ratio of 0.81 and a beta of 1.70. 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 company’s 50 day moving average price is $8.75 and its 200-day moving average price is $7.91.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. Shoals Technologies Group had a net margin of 7.66% and a return on equity of 8.50%. The company had revenue of $135.80 million during the quarter, compared to analysts’ expectations of $131.37 million. Equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Dominic Bardos sold 4,170 shares of Shoals Technologies Group stock in a transaction dated 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 approximately $3,228,222.87. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.52% 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.