HRT Financial LP Purchases 106,616 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

HRT Financial LP lifted its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Rating) by 562.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,570 shares of the company’s stock after acquiring an additional 106,616 shares during the quarter. HRT Financial LP owned 0.08% of Shoals Technologies Group worth $3,097,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SHLS. Advisor Group Holdings Inc. lifted its holdings in Shoals Technologies Group by 16.1% during the 4th quarter. Advisor Group Holdings Inc. now owns 90,448 shares of the company’s stock valued at $2,231,000 after buying an additional 12,539 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Shoals Technologies Group by 2.7% during the 4th quarter. Clearbridge Investments LLC now owns 6,395,117 shares of the company’s stock valued at $157,768,000 after buying an additional 165,347 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Shoals Technologies Group by 562.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,252 shares of the company’s stock valued at $80,000 after buying an additional 2,761 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in Shoals Technologies Group during the 4th quarter valued at about $24,237,000. Finally, Artisan Partners Limited Partnership lifted its holdings in Shoals Technologies Group by 28.5% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,820,880 shares of the company’s stock valued at $44,921,000 after buying an additional 403,948 shares in the last quarter. Institutional investors own 81.94% of the company’s stock.

Insiders Place Their Bets

In other Shoals Technologies Group news, President Jeffery Tolnar sold 3,575 shares of the company’s stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $19.73, for a total transaction of $70,534.75. Following the completion of the transaction, the president now directly owns 66,044 shares in the company, valued at $1,303,048.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Dean Solon sold 24,501,650 shares of the business’s stock in a transaction dated Friday, March 10th. The shares were sold at an average price of $24.25, for a total transaction of $594,165,012.50. Following the transaction, the insider now directly owns 3,675,247 shares in the company, valued at $89,124,739.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Jeffery Tolnar sold 3,575 shares of the stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $19.73, for a total transaction of $70,534.75. Following the completion of the sale, the president now owns 66,044 shares of the company’s stock, valued at approximately $1,303,048.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,695,143 shares of company stock worth $598,266,559. Company insiders own 1.67% of the company’s stock.

Shoals Technologies Group Stock Down 0.9 %

SHLS stock opened at $23.45 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.83 and a quick ratio of 1.69. The firm’s fifty day simple moving average is $22.02 and its 200-day simple moving average is $24.36. Shoals Technologies Group, Inc. has a 12 month low of $13.92 and a 12 month high of $32.43. The company has a market capitalization of $3.98 billion, a P/E ratio of 25.77 and a beta of 2.10.

Shoals Technologies Group (NASDAQ:SHLS – Get Rating) last posted its earnings results on Tuesday, February 28th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.06. Shoals Technologies Group had a net margin of 38.26% and a return on equity of 29.36%. The firm had revenue of $94.65 million during the quarter, compared to analysts’ expectations of $86.29 million. As a group, equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.49 earnings per share for the current year.

Wall Street Analyst Weigh In

SHLS has been the subject of a number of research analyst reports. The Goldman Sachs Group upgraded shares of Shoals Technologies Group from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $20.00 to $22.00 in a report on Thursday, March 30th. Credit Suisse Group restated an “outperform” rating and issued a $29.00 price target on shares of Shoals Technologies Group in a report on Monday, March 6th. Morgan Stanley reduced their price target on shares of Shoals Technologies Group from $32.00 to $29.00 and set an “equal weight” rating for the company in a report on Monday, April 3rd. Truist Financial boosted their price target on shares of Shoals Technologies Group from $32.00 to $35.00 in a report on Tuesday, May 9th. Finally, Citigroup began coverage on shares of Shoals Technologies Group in a research report on Thursday, March 9th. They issued a “buy” rating and a $34.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.34.

About Shoals Technologies Group

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Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It produces EBOS components, including cable assemblies, inline fuses, combiners, disconnects, recombiners, wireless monitoring systems, junction boxes, transition enclosures, splice boxes, wire management solutions, and IV curve benchmarking devices.