GSA Capital Partners LLP Lowers Stock Position in Shoals Technologies Group, Inc. $SHLS

GSA Capital Partners LLP cut its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 26.0% during the third quarter, Holdings Channel reports. The institutional investor owned 177,437 shares of the company’s stock after selling 62,422 shares during the quarter. GSA Capital Partners LLP’s holdings in Shoals Technologies Group were worth $1,315,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SHLS. Nisa Investment Advisors LLC boosted its stake in Shoals Technologies Group by 449.1% during the second quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock worth $31,000 after acquiring an additional 5,910 shares in the last quarter. Savant Capital LLC purchased a new position in shares of Shoals Technologies Group during the second quarter valued at approximately $50,000. Ethic Inc. bought a new stake in shares of Shoals Technologies Group in the 2nd quarter worth approximately $54,000. State of Alaska Department of Revenue purchased a new stake in shares of Shoals Technologies Group in the 3rd quarter worth approximately $54,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Shoals Technologies Group during the 1st quarter valued at approximately $57,000.

Analyst Ratings Changes

SHLS has been the topic of several analyst reports. The Goldman Sachs Group reissued a “buy” rating on shares of Shoals Technologies Group in a report on Monday, February 9th. Guggenheim upped their price target on shares of Shoals Technologies Group from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Weiss Ratings restated a “hold (c)” rating on shares of Shoals Technologies Group in a research note on Friday, January 9th. Roth Mkm reaffirmed a “buy” rating and issued a $15.00 target price (up from $10.00) on shares of Shoals Technologies Group in a report on Wednesday, November 5th. Finally, Zacks Research cut shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.40.

Shoals Technologies Group Price Performance

SHLS opened at $10.73 on Thursday. The company’s 50-day simple moving average is $9.37 and its two-hundred day simple moving average is $8.37. 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 $1.80 billion, a P/E ratio of 53.65, a P/E/G ratio of 0.91 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.

Insiders Place Their Bets

In related news, CFO Dominic Bardos sold 4,170 shares of the stock in a transaction that occurred 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 owned 412,289 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 1.67% of the stock is currently owned by company insiders.

Shoals Technologies Group Company 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.