Sumitomo Mitsui Trust Holdings Inc. Has $5.86 Million Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 377,188 shares of the company’s stock after buying an additional 10,686 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.22% of Shoals Technologies Group worth $5,862,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SHLS. Assetmark Inc. lifted its stake in shares of Shoals Technologies Group by 92.7% in the 3rd quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock valued at $29,000 after purchasing an additional 765 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in shares of Shoals Technologies Group in the 4th quarter valued at $33,000. Exchange Traded Concepts LLC acquired a new position in shares of Shoals Technologies Group in the 3rd quarter valued at $48,000. Headlands Technologies LLC lifted its stake in shares of Shoals Technologies Group by 101.4% in the 3rd quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock valued at $81,000 after purchasing an additional 2,245 shares during the period. Finally, Trium Capital LLP acquired a new stake in Shoals Technologies Group during the 3rd quarter worth $93,000.

Shoals Technologies Group Price Performance

Shares of NASDAQ SHLS opened at $8.46 on Wednesday. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 33.84 and a beta of 1.79. The business has a 50-day moving average of $12.06 and a 200-day moving average of $13.81. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.45 and a quick ratio of 1.88. Shoals Technologies Group, Inc. has a fifty-two week low of $8.06 and a fifty-two week high of $28.34.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $130.44 million during the quarter, compared to the consensus estimate of $131.89 million. Shoals Technologies Group had a net margin of 8.18% and a return on equity of 16.02%. As a group, sell-side analysts predict that Shoals Technologies Group, Inc. will post 0.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Oppenheimer dropped their price objective on Shoals Technologies Group from $42.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, February 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $24.00 price objective on shares of Shoals Technologies Group in a research note on Wednesday, March 13th. Barclays dropped their price objective on Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 5th. The Goldman Sachs Group dropped their price objective on Shoals Technologies Group from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Finally, Truist Financial reiterated a “buy” rating and set a $20.00 target price (down previously from $23.00) on shares of Shoals Technologies Group in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.94.

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.