Telemark Asset Management LLC Increases Position in Shoals Technologies Group, Inc. $SHLS

by · The Markets Daily

Telemark Asset Management LLC boosted its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS – Free Report) by 100.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,000,000 shares of the company’s stock after purchasing an additional 500,000 shares during the quarter. Telemark Asset Management LLC owned approximately 0.60% of Shoals Technologies Group worth $7,410,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SHLS. Royal Bank of Canada raised its stake 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 worth $353,000 after buying an additional 79,392 shares during the period. AQR Capital Management LLC raised 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 acquiring an additional 598,407 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Shoals Technologies Group during the first quarter worth $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted 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 in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew 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.

Shoals Technologies Group Trading Up 4.1%

Shares of Shoals Technologies Group stock opened at $10.61 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.19 and a quick ratio of 1.53. The stock’s 50 day simple moving average is $9.42 and its 200-day simple moving average is $8.44. The stock has a market cap of $1.78 billion, a P/E ratio of 53.05, a P/E/G ratio of 0.90 and a beta of 1.70. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $11.36.

Insider Activity

In other Shoals Technologies Group 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.67% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SHLS shares. Weiss Ratings restated a “hold (c)” rating on shares of Shoals Technologies Group in a research report on Friday, January 9th. Zacks Research lowered Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. UBS Group increased their target price on Shoals Technologies Group from $9.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $9.50 price target (down from $11.00) on shares of Shoals Technologies Group in a research note on Tuesday, December 16th. Finally, Roth Mkm reiterated a “buy” rating and set a $15.00 price target (up from $10.00) on shares of Shoals Technologies Group in a research report on Wednesday, November 5th. 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.40.

Get Our Latest Report on SHLS

About Shoals Technologies Group

(Free Report)

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.

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