UniSuper Management Pty Ltd Has $5.88 Million Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

UniSuper Management Pty Ltd lowered its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 11.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,063,306 shares of the company’s stock after selling 134,300 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Shoals Technologies Group were worth $5,880,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. FMR LLC increased its position in Shoals Technologies Group by 48.9% in the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock valued at $33,000 after acquiring an additional 1,906 shares during the period. Empirical Asset Management LLC acquired a new stake in Shoals Technologies Group in the fourth quarter valued at $59,000. Cibc World Markets Corp bought a new position in Shoals Technologies Group during the 4th quarter worth $87,000. Versor Investments LP acquired a new position in Shoals Technologies Group during the 4th quarter worth about $91,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of Shoals Technologies Group in the 4th quarter valued at about $110,000.

Insiders Place Their Bets

In other news, CEO Brandon Moss sold 21,700 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total transaction of $66,619.00. Following the completion of the transaction, the chief executive officer now directly owns 1,051,303 shares of the company’s stock, valued at $3,227,500.21. This represents a 2.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 40,575 shares of company stock valued at $123,957. Company insiders own 0.36% of the company’s stock.

Shoals Technologies Group Price Performance

Shares of NASDAQ SHLS opened at $3.42 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $571.12 million, a PE ratio of 17.10, a PEG ratio of 0.52 and a beta of 1.69. The stock’s 50 day moving average price is $3.89 and its 200-day moving average price is $4.84. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $11.85.

Shoals Technologies Group (NASDAQ:SHLS) last announced its earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $107.00 million for the quarter, compared to analysts’ expectations of $102.16 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share. On average, equities analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on SHLS. Morgan Stanley raised Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective on the stock in a research note on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price target on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Mizuho decreased their price objective on shares of Shoals Technologies Group from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Roth Mkm dropped their target price on shares of Shoals Technologies Group from $5.00 to $4.50 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. Finally, Royal Bank of Canada decreased their price target on Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Three 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.87.

Shoals Technologies Group 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.