Tudor Investment Corp ET AL Takes $221,000 Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Tudor Investment Corp ET AL acquired a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 39,927 shares of the company’s stock, valued at approximately $221,000.

Other large investors have also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Shoals Technologies Group during the 4th quarter worth approximately $2,212,000. Fuller & Thaler Asset Management Inc. bought a new stake in Shoals Technologies Group in the fourth quarter valued at $616,000. Tower Research Capital LLC TRC boosted its holdings in shares of Shoals Technologies Group by 20.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company’s stock valued at $86,000 after acquiring an additional 2,652 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Shoals Technologies Group during the fourth quarter worth about $570,000. Finally, First Trust Advisors LP increased its holdings in shares of Shoals Technologies Group by 18.7% in the 4th quarter. First Trust Advisors LP now owns 699,116 shares of the company’s stock worth $3,866,000 after acquiring an additional 110,292 shares during the period.

Insider Buying and Selling at Shoals Technologies Group

In other news, CEO Brandon Moss sold 21,700 shares of Shoals Technologies Group stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total transaction of $66,619.00. Following the transaction, the chief executive officer now owns 1,051,303 shares in the company, valued at approximately $3,227,500.21. The trade was a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 40,575 shares of company stock valued at $123,957 in the last three months. 1.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on SHLS shares. Jefferies Financial Group reduced their target price on shares of Shoals Technologies Group from $4.60 to $3.40 and set a “hold” rating for the company in a research note on Wednesday, March 12th. Wolfe Research began coverage on Shoals Technologies Group in a report on Tuesday, February 18th. They issued a “peer perform” rating for the company. Oppenheimer cut their target price on Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 28th. Citigroup raised their price target on Shoals Technologies Group from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Wednesday. Finally, Piper Sandler reduced their price objective on shares of Shoals Technologies Group from $8.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.77.

Shoals Technologies Group Trading Up 5.2 %

Shares of SHLS opened at $5.07 on Friday. The business’s 50-day moving average price is $3.45 and its 200 day moving average price is $4.38. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $846.66 million, a P/E ratio of 25.35, a P/E/G ratio of 0.52 and a beta of 1.52. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $8.52.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The firm had revenue of $80.36 million during the quarter, compared to analysts’ expectations of $74.66 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business’s revenue was down 11.2% on a year-over-year basis. During the same period last year, the business earned $0.07 earnings per share. Analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

About Shoals Technologies Group

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.