1,500,000 Shares in Shoals Technologies Group, Inc. (NASDAQ:SHLS) Bought by Goodlander Investment Management LLC

Goodlander Investment Management LLC acquired a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,500,000 shares of the company's stock, valued at approximately $8,295,000. Shoals Technologies Group makes up 6.2% of Goodlander Investment Management LLC's portfolio, making the stock its 9th largest position. Goodlander Investment Management LLC owned about 0.90% of Shoals Technologies Group as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Gotham Asset Management LLC boosted its stake in shares of Shoals Technologies Group by 58.1% in the 4th quarter. Gotham Asset Management LLC now owns 75,733 shares of the company's stock worth $419,000 after buying an additional 27,842 shares during the last quarter. Graham Capital Management L.P. purchased a new position in Shoals Technologies Group in the fourth quarter worth $1,227,000. Granahan Investment Management LLC bought a new position in Shoals Technologies Group in the 4th quarter valued at $99,000. Encompass Capital Advisors LLC grew its stake in Shoals Technologies Group by 14.5% in the 4th quarter. Encompass Capital Advisors LLC now owns 5,410,245 shares of the company's stock valued at $29,919,000 after purchasing an additional 683,642 shares during the period. Finally, Frontier Capital Management Co. LLC increased its position in shares of Shoals Technologies Group by 34.5% during the 4th quarter. Frontier Capital Management Co. LLC now owns 2,501,876 shares of the company's stock valued at $13,835,000 after purchasing an additional 641,328 shares during the last quarter.

Shoals Technologies Group Stock Performance

NASDAQ SHLS opened at $5.07 on Friday. The company's 50 day simple moving average is $3.45 and its two-hundred day simple moving average is $4.38. The stock has a market capitalization of $846.66 million, a PE ratio of 25.35, a P/E/G ratio of 0.52 and a beta of 1.52. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. 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 posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The business had revenue of $80.36 million for the quarter, compared to the consensus estimate of $74.66 million. During the same period in the prior year, the business posted $0.07 EPS. Shoals Technologies Group's quarterly revenue was down 11.2% on a year-over-year basis. Analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Brandon Moss sold 21,700 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total value of $66,619.00. Following the completion of the transaction, the chief executive officer now directly 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 40,575 shares of company stock worth $123,957. Insiders own 1.67% of the company's stock.

Analyst Ratings Changes

SHLS has been the subject of several research reports. Wolfe Research started coverage on shares of Shoals Technologies Group in a research report on Tuesday, February 18th. They set a "peer perform" rating for the company. Piper Sandler reduced their target price on shares of Shoals Technologies Group from $8.00 to $6.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Citigroup lifted their price target on shares of Shoals Technologies Group from $4.50 to $5.50 and gave the stock a "neutral" rating in a report on Wednesday. Mizuho reduced their price objective on Shoals Technologies Group from $7.00 to $6.00 and set an "outperform" rating for the company in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. lowered their target price on 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $8.77.

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.

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