Shoals Technologies Group, Inc. $SHLS Shares Acquired by Telemark Asset Management LLC

Telemark Asset Management LLC grew its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 50.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,500,000 shares of the company’s stock after acquiring an additional 500,000 shares during the quarter. Shoals Technologies Group comprises approximately 1.3% of Telemark Asset Management LLC’s investment portfolio, making the stock its 29th biggest position. Telemark Asset Management LLC owned about 0.90% of Shoals Technologies Group worth $12,750,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC increased its stake in shares of Shoals Technologies Group by 57.7% in the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after acquiring an additional 1,375 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Shoals Technologies Group in the 4th quarter worth $49,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Shoals Technologies Group in the 1st quarter worth $57,000. Tower Research Capital LLC TRC increased its stake in shares of Shoals Technologies Group by 468.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock worth $66,000 after acquiring an additional 12,788 shares during the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in shares of Shoals Technologies Group in the 4th quarter worth $85,000.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SHLS shares. JPMorgan Chase & Co. raised their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. UBS Group raised their price objective on Shoals Technologies Group from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. The Goldman Sachs Group reissued a “buy” rating on shares of Shoals Technologies Group in a research report on Monday, February 9th. Jefferies Financial Group decreased their target price on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, March 11th. Finally, Royal Bank Of Canada decreased their target price on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.64.

Shoals Technologies Group Trading Down 15.3%

NASDAQ SHLS opened at $10.81 on Friday. The firm’s 50-day moving average is $8.59 and its two-hundred day moving average is $8.46. Shoals Technologies Group, Inc. has a 12 month low of $3.99 and a 12 month high of $13.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.07. The stock has a market capitalization of $1.81 billion, a P/E ratio of 54.05, a PEG ratio of 1.31 and a beta of 1.90.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Tuesday, May 5th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. Shoals Technologies Group had a net margin of 6.27% and a return on equity of 10.03%. The company had revenue of $140.56 million for the quarter, compared to analysts’ expectations of $129.16 million. The business’s revenue was up 74.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Shoals Technologies Group, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other Shoals Technologies Group news, CFO Dominic Bardos sold 54,449 shares of Shoals Technologies Group stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $8.48, for a total value of $461,727.52. Following the completion of the transaction, the chief financial officer directly owned 394,979 shares of the company’s stock, valued at $3,349,421.92. The trade was a 12.12% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.81% of the stock is owned by insiders.

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.