Y Intercept Hong Kong Ltd Purchases 76,923 Shares of Shoals Technologies Group, Inc. $SHLS

Y Intercept Hong Kong Ltd grew its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 569.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 90,422 shares of the company’s stock after purchasing an additional 76,923 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Shoals Technologies Group were worth $595,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SHLS. Hussman Strategic Advisors Inc. raised its position in Shoals Technologies Group by 140.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 252,000 shares of the company’s stock valued at $2,142,000 after purchasing an additional 147,000 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Shoals Technologies Group by 148.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 414,545 shares of the company’s stock worth $3,524,000 after purchasing an additional 247,721 shares during the last quarter. Tudor Investment Corp ET AL boosted its holdings in shares of Shoals Technologies Group by 83.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,025,812 shares of the company’s stock valued at $7,601,000 after purchasing an additional 465,968 shares in the last quarter. Telemark Asset Management LLC boosted its holdings in shares of Shoals Technologies Group by 50.0% in the 4th quarter. Telemark Asset Management LLC now owns 1,500,000 shares of the company’s stock valued at $12,750,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Shoals Technologies Group in the 4th quarter valued at $9,819,000.

Insider Activity at Shoals Technologies Group

In other Shoals Technologies Group news, CFO Dominic Bardos sold 54,449 shares of the business’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 value of $461,727.52. Following the transaction, the chief financial officer directly owned 394,979 shares of the company’s stock, valued at approximately $3,349,421.92. The trade was a 12.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bobbie Lee King, Jr. sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total transaction of $104,100.00. Following the transaction, the insider owned 98,918 shares in the company, valued at $1,029,736.38. The trade was a 9.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.81% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on SHLS. JPMorgan Chase & Co. upped their price objective on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Wells Fargo & Company lifted their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, June 11th. Needham & Company LLC reissued a “buy” rating and issued a $12.00 target price on shares of Shoals Technologies Group in a report on Wednesday, May 6th. Guggenheim restated a “buy” rating on shares of Shoals Technologies Group in a research note on Friday, May 22nd. Finally, UBS Group lifted their price target on shares of Shoals Technologies Group from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.00.

Shoals Technologies Group Trading Down 6.2%

Shares of SHLS stock opened at $9.40 on Tuesday. The firm has a market capitalization of $1.57 billion, a P/E ratio of 47.00, a P/E/G ratio of 1.22 and a beta of 1.90. Shoals Technologies Group, Inc. has a twelve month low of $4.43 and a twelve month high of $13.18. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. The stock’s fifty day simple moving average is $10.12 and its 200 day simple moving average is $8.77.

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

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.