Goodlander Investment Management LLC Takes Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Goodlander Investment Management LLC bought a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,500,000 shares of the company's stock, valued at approximately $8,295,000. Shoals Technologies Group makes up approximately 6.2% of Goodlander Investment Management LLC's investment portfolio, making the stock its 9th largest position. Goodlander Investment Management LLC owned about 0.90% of Shoals Technologies Group at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in shares of Shoals Technologies Group by 25.9% during the 3rd quarter. Barclays PLC now owns 291,242 shares of the company's stock worth $1,634,000 after buying an additional 59,856 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Shoals Technologies Group by 16.1% during the 3rd quarter. Franklin Resources Inc. now owns 4,748,673 shares of the company's stock worth $24,836,000 after buying an additional 658,617 shares during the last quarter. Empirical Asset Management LLC acquired a new position in shares of Shoals Technologies Group during the 4th quarter worth about $59,000. SG Americas Securities LLC acquired a new position in shares of Shoals Technologies Group during the 4th quarter worth about $185,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Shoals Technologies Group in the 4th quarter valued at about $110,000.

Insider Transactions at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total value of $66,619.00. Following the transaction, the chief executive officer now directly owns 1,051,303 shares in the company, valued at $3,227,500.21. This represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders have sold 40,575 shares of company stock valued at $123,957. 1.67% of the stock is currently owned by company insiders.

Shoals Technologies Group Stock Performance

Shares of SHLS stock traded down $1.51 during trading on Thursday, reaching $4.60. 5,749,059 shares of the company's stock traded hands, compared to its average volume of 6,710,233. The company has a market capitalization of $767.51 million, a P/E ratio of 23.58, a PEG ratio of 0.52 and a beta of 1.52. 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 firm's 50-day moving average is $3.62 and its 200 day moving average is $4.39. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). The business had revenue of $80.36 million for the quarter, compared to analysts' expectations of $74.66 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The business's quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 earnings per share. Equities research analysts expect that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SHLS. Guggenheim raised their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Barclays decreased their target price on shares of Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Roth Mkm decreased 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 research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on shares of Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Finally, BNP Paribas Exane lowered shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 target price on the stock. in a report on Thursday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $8.54.

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.