Hussman Strategic Advisors Inc. Increases Holdings in Shoals Technologies Group, Inc. $SHLS

Hussman Strategic Advisors Inc. lifted its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 140.0% in the fourth quarter, Holdings Channel reports. The firm owned 252,000 shares of the company’s stock after buying an additional 147,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Shoals Technologies Group were worth $2,142,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Shoals Technologies Group by 57.7% in the fourth 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 period. USA Financial Formulas purchased a new stake in shares of Shoals Technologies Group in the fourth quarter valued at approximately $49,000. State of Alaska Department of Revenue purchased a new stake in shares of Shoals Technologies Group in the third quarter valued at approximately $54,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Shoals Technologies Group in the first quarter valued at approximately $57,000. Finally, Tower Research Capital LLC TRC raised its stake in Shoals Technologies Group by 468.3% in the second quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company’s stock worth $66,000 after buying an additional 12,788 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SHLS. Needham & Company LLC reduced their price objective on shares of Shoals Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. JPMorgan Chase & Co. reduced their price objective on shares of Shoals Technologies Group from $11.00 to $9.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. UBS Group reduced their price objective on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. BNP Paribas Exane raised shares of Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 price objective for the company in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada reduced their price objective on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Ten research 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. According to MarketBeat.com, Shoals Technologies Group currently has a consensus rating of “Moderate Buy” and an average price target of $9.43.

Shoals Technologies Group Stock Performance

Shares of NASDAQ:SHLS opened at $8.16 on Friday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 40.80, a price-to-earnings-growth ratio of 0.93 and a beta of 1.74. Shoals Technologies Group, Inc. has a 52 week low of $3.65 and a 52 week high of $11.36. The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 0.23. The firm has a 50 day moving average of $6.81 and a 200 day moving average of $8.39.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The business had revenue of $148.33 million for the quarter, compared to analyst estimates of $144.52 million. Shoals Technologies Group had a return on equity of 9.10% and a net margin of 7.06%.The business’s revenue for the quarter was up 38.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.08 earnings per share. On average, sell-side analysts predict that Shoals Technologies Group, Inc. will post 0.37 earnings per share for the current fiscal year.

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.