Militia Capital Management LLC Acquires New Position in Shoals Technologies Group, Inc. $SHLS

Militia Capital Management LLC acquired a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 78,400 shares of the company’s stock, valued at approximately $516,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its holdings 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 valued at $32,000 after buying an additional 1,375 shares during the period. KBC Group NV acquired a new position in Shoals Technologies Group during the first quarter worth $30,000. USA Financial Formulas acquired a new position in Shoals Technologies Group during the fourth quarter worth $49,000. PNC Financial Services Group Inc. raised its position in Shoals Technologies Group by 378.0% in the first quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock worth $50,000 after acquiring an additional 5,983 shares in the last quarter. Finally, CIBC Asset Management Inc acquired a new stake in Shoals Technologies Group in the fourth quarter valued at $85,000.

Insider Transactions 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 dated Friday, May 8th. The shares were sold at an average price of $8.48, for a total value of $461,727.52. Following the sale, the chief financial officer owned 394,979 shares of the company’s stock, valued at $3,349,421.92. This represents a 12.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bobbie Lee King, Jr. sold 10,000 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total transaction of $104,100.00. Following the completion of the sale, the insider directly owned 98,918 shares in the company, valued at $1,029,736.38. This trade represents a 9.18% decrease in their position. The SEC filing for this sale provides additional information. 0.81% of the stock is currently owned by corporate insiders.

Shoals Technologies Group Stock Down 5.2%

SHLS opened at $9.89 on Friday. The business’s fifty day moving average is $10.40 and its two-hundred day moving average is $8.86. 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 cap of $1.66 billion, a price-to-earnings ratio of 49.45, a PEG ratio of 1.27 and a beta of 1.90. Shoals Technologies Group, Inc. has a one year low of $4.43 and a one year high of $13.18.

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, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $140.56 million for the quarter, compared to analyst estimates of $129.16 million. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The business’s revenue for the quarter was up 74.4% compared to the same quarter last year. Analysts anticipate that Shoals Technologies Group, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on SHLS shares. JPMorgan Chase & Co. boosted their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. UBS Group increased 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. Weiss Ratings upgraded shares of Shoals Technologies Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. Barclays boosted their price objective on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Finally, Wells Fargo & Company upped their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 11th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Shoals Technologies Group presently has an average rating of “Moderate Buy” and a consensus price target of $10.46.

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.