Entropy Technologies LP Invests $182,000 in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Entropy Technologies LP bought a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 32,421 shares of the company’s stock, valued at approximately $182,000.

Several other institutional investors have also added to or reduced their stakes in SHLS. 1620 Investment Advisors Inc. purchased a new stake in shares of Shoals Technologies Group in the 2nd quarter worth $54,000. Mackenzie Financial Corp purchased a new stake in Shoals Technologies Group in the second quarter worth about $64,000. American Trust bought a new position in shares of Shoals Technologies Group in the second quarter worth about $68,000. Versor Investments LP purchased a new position in shares of Shoals Technologies Group during the 2nd quarter valued at about $80,000. Finally, Pallas Capital Advisors LLC bought a new position in shares of Shoals Technologies Group during the 2nd quarter valued at approximately $90,000.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SHLS. TD Cowen increased their price objective on shares of Shoals Technologies Group from $9.50 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. UBS Group dropped their price objective on shares of Shoals Technologies Group from $12.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Citigroup upgraded Shoals Technologies Group from a “sell” rating to a “neutral” rating and raised their price objective for the company from $5.00 to $5.50 in a research report on Thursday, October 3rd. Cantor Fitzgerald reissued an “overweight” rating and set a $12.00 price target on shares of Shoals Technologies Group in a research note on Tuesday, September 17th. Finally, Jefferies Financial Group assumed coverage on Shoals Technologies Group in a research note on Wednesday, September 4th. They issued a “hold” rating and a $5.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $11.92.

Shoals Technologies Group Trading Down 12.6 %

Shares of NASDAQ SHLS opened at $4.56 on Monday. Shoals Technologies Group, Inc. has a fifty-two week low of $4.53 and a fifty-two week high of $17.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.50 and a current ratio of 2.08. The company has a market cap of $759.92 million, a price-to-earnings ratio of 22.80, a PEG ratio of 0.67 and a beta of 1.73. The business’s 50 day moving average price is $5.54 and its 200-day moving average price is $6.18.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $102.20 million for the quarter, compared to the consensus estimate of $98.86 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 EPS. On average, sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.28 earnings per share for the current 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.