Dynamic Technology Lab Private Ltd cut its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS – Free Report) by 27.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,125 shares of the company’s stock after selling 10,407 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Shoals Technologies Group were worth $422,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its position in shares of Shoals Technologies Group by 47.6% during the third quarter. Victory Capital Management Inc. now owns 1,436,774 shares of the company’s stock worth $26,221,000 after acquiring an additional 463,600 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Shoals Technologies Group by 27.9% during the third quarter. Assenagon Asset Management S.A. now owns 17,169 shares of the company’s stock valued at $313,000 after purchasing an additional 3,742 shares in the last quarter. Trium Capital LLP bought a new stake in shares of Shoals Technologies Group in the third quarter worth about $93,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Shoals Technologies Group by 4.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,158 shares of the company’s stock worth $496,000 after buying an additional 1,121 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Shoals Technologies Group by 1.4% during the third quarter. Arizona State Retirement System now owns 48,353 shares of the company’s stock valued at $882,000 after buying an additional 689 shares during the last quarter.
Shoals Technologies Group Trading Up 5.6 %
NASDAQ SHLS opened at $8.05 on Friday. The stock has a market cap of $1.37 billion, a PE ratio of 44.72 and a beta of 1.86. Shoals Technologies Group, Inc. has a 12 month low of $6.28 and a 12 month high of $28.34. The company’s 50-day moving average price is $9.19 and its 200-day moving average price is $12.56. The company has a current ratio of 2.62, a quick ratio of 1.87 and a debt-to-equity ratio of 0.30.
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last issued its earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). Shoals Technologies Group had a return on equity of 13.95% and a net margin of 6.42%. The company had revenue of $130.44 million during the quarter, compared to the consensus estimate of $131.89 million. Equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.44 earnings per share for the current year.
Analyst Ratings Changes
SHLS has been the topic of several recent research reports. Oppenheimer decreased their price objective on Shoals Technologies Group from $42.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. JPMorgan Chase & Co. lowered their price objective on shares of Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, February 29th. Northland Securities restated an “underperform” rating and issued a $6.00 target price (down from $12.00) on shares of Shoals Technologies Group in a report on Wednesday, May 8th. Truist Financial reaffirmed a “buy” rating and issued a $20.00 price target (down previously from $23.00) on shares of Shoals Technologies Group in a report on Thursday, February 29th. Finally, UBS Group dropped their price target on Shoals Technologies Group from $28.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Shoals Technologies Group presently has a consensus rating of “Moderate Buy” and an average price target of $17.29.
Get Our Latest Stock Analysis on SHLS
About Shoals Technologies Group
(Free Report)
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.
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