Assenagon Asset Management S.A. Decreases Stake in Shoals Technologies Group, Inc. $SHLS

Assenagon Asset Management S.A. lowered its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 13.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 344,135 shares of the company’s stock after selling 53,632 shares during the period. Assenagon Asset Management S.A.’s holdings in Shoals Technologies Group were worth $1,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. MQS Management LLC purchased a new position in shares of Shoals Technologies Group during the first quarter worth $43,000. Cerity Partners LLC purchased a new position in Shoals Technologies Group in the first quarter valued at $43,000. Caitong International Asset Management Co. Ltd purchased a new position in Shoals Technologies Group in the first quarter valued at $44,000. Virtu Financial LLC acquired a new stake in shares of Shoals Technologies Group in the first quarter valued at about $46,000. Finally, FORA Capital LLC acquired a new stake in shares of Shoals Technologies Group in the first quarter valued at about $51,000.

Analysts Set New Price Targets

A number of research firms recently weighed in on SHLS. Barclays boosted their price target on shares of Shoals Technologies Group from $4.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Friday, July 18th. The Goldman Sachs Group upped their target price on shares of Shoals Technologies Group from $7.00 to $8.00 and gave the stock a “buy” rating in a research note on Thursday, September 11th. Roth Capital upgraded shares of Shoals Technologies Group from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a report on Thursday, August 7th. Wall Street Zen cut shares of Shoals Technologies Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 17th. Finally, UBS Group reduced their price target on shares of Shoals Technologies Group from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.15.

Shoals Technologies Group Price Performance

Shares of NASDAQ SHLS opened at $7.66 on Friday. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 58.93, a PEG ratio of 0.93 and a beta of 1.63. Shoals Technologies Group, Inc. has a 52 week low of $2.71 and a 52 week high of $8.20. The company’s 50-day moving average price is $6.21 and its 200 day moving average price is $5.01. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $110.84 million for the quarter, compared to analysts’ expectations of $104.87 million. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.10 EPS. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Shoals Technologies Group Company Profile

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.