18,572 Shares in Shoals Technologies Group, Inc. (NASDAQ:SHLS) Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 18,572 shares of the company’s stock, valued at approximately $104,000.

Several other institutional investors and hedge funds have also made changes to their positions in SHLS. M&G Plc purchased a new position in Shoals Technologies Group during the 2nd quarter worth $7,021,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Shoals Technologies Group by 104.1% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 135,629 shares of the company’s stock valued at $846,000 after purchasing an additional 69,193 shares in the last quarter. Swedbank AB purchased a new position in Shoals Technologies Group during the first quarter valued at approximately $25,268,000. Skandinaviska Enskilda Banken AB publ raised its stake in Shoals Technologies Group by 146.9% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 157,000 shares of the company’s stock worth $980,000 after buying an additional 93,400 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in Shoals Technologies Group by 34.2% during the third quarter. Handelsbanken Fonder AB now owns 2,711,603 shares of the company’s stock worth $15,212,000 after buying an additional 690,344 shares during the period.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SHLS shares. TD Cowen lifted their price target on Shoals Technologies Group from $9.50 to $11.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. decreased their target price on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company started coverage on Shoals Technologies Group in a research note on Monday, October 14th. They set an “equal weight” rating and a $46.00 target price on the stock. Cantor Fitzgerald restated 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, Piper Sandler cut their price target on shares of Shoals Technologies Group from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.31.

Shoals Technologies Group Trading Up 5.0 %

SHLS stock opened at $5.07 on Tuesday. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. Shoals Technologies Group, Inc. has a 52-week low of $4.07 and a 52-week high of $17.50. The company’s 50-day simple moving average is $5.33 and its 200-day simple moving average is $6.01. The firm has a market cap of $845.17 million, a P/E ratio of 25.35, a PEG ratio of 0.70 and a beta of 1.73.

Shoals Technologies Group (NASDAQ:SHLS) last announced its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business had revenue of $102.20 million for the quarter, compared to analyst estimates of $98.86 million. During the same period in the previous year, the company earned $0.16 earnings per share. The company’s quarterly revenue was down 23.8% compared to the same quarter last year. As a group, equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Insider Activity

In related news, CEO Brandon Moss bought 22,300 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of $4.55 per share, for a total transaction of $101,465.00. Following the acquisition, the chief executive officer now directly owns 593,700 shares in the company, valued at $2,701,335. This represents a 3.90 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.36% of the company’s stock.

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.