Comerica Bank Sells 49,114 Shares of Shoals Technologies Group, Inc. $SHLS

Comerica Bank decreased its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 81.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,203 shares of the company’s stock after selling 49,114 shares during the period. Comerica Bank’s holdings in Shoals Technologies Group were worth $95,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SHLS. GAMMA Investing LLC raised its position in Shoals Technologies Group by 57.7% during the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after purchasing an additional 1,375 shares during the last quarter. USA Financial Formulas bought a new position in Shoals Technologies Group during the 4th quarter valued at approximately $49,000. State of Alaska Department of Revenue bought a new position in Shoals Technologies Group during the 3rd quarter valued at approximately $54,000. Dynamic Technology Lab Private Ltd bought a new position in Shoals Technologies Group during the 1st quarter valued at approximately $57,000. Finally, Tower Research Capital LLC TRC raised its position in Shoals Technologies Group by 468.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock valued at $66,000 after purchasing an additional 12,788 shares during the last quarter.

Shoals Technologies Group Stock Up 11.3%

SHLS stock opened at $10.33 on Friday. Shoals Technologies Group, Inc. has a fifty-two week low of $3.81 and a fifty-two week high of $11.36. The business’s 50 day moving average price is $7.12 and its two-hundred day moving average price is $8.30. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.07 and a current ratio of 1.84. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 51.65, a price-to-earnings-growth ratio of 1.26 and a beta of 1.74.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The firm had revenue of $140.56 million for the quarter, compared to the consensus estimate of $129.16 million. The company’s revenue for the quarter was up 74.4% compared to the same quarter last year. As a group, analysts forecast that Shoals Technologies Group, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Citigroup upped their price target on Shoals Technologies Group from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Jefferies Financial Group lowered their price target on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Guggenheim reduced their target price on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Wall Street Zen downgraded Shoals Technologies Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Morgan Stanley reduced their target price on Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.64.

Insider Buying and Selling at Shoals Technologies Group

In other Shoals Technologies Group news, CFO Dominic Bardos sold 54,449 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $8.48, for a total transaction of $461,727.52. Following the transaction, the chief financial officer owned 394,979 shares in the company, valued at approximately $3,349,421.92. This represents a 12.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.81% of the company’s stock.

Shoals Technologies Group 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.