Bryce Point Capital LLC Takes Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Bryce Point Capital LLC bought a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 216,190 shares of the company's stock, valued at approximately $1,196,000. Bryce Point Capital LLC owned approximately 0.13% of Shoals Technologies Group at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Point72 Asset Management L.P. lifted its stake in Shoals Technologies Group by 460.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 6,844,222 shares of the company's stock valued at $38,396,000 after buying an additional 5,622,207 shares in the last quarter. Norges Bank purchased a new stake in Shoals Technologies Group during the 4th quarter worth about $12,472,000. Impax Asset Management Group plc boosted its stake in shares of Shoals Technologies Group by 126.3% during the 4th quarter. Impax Asset Management Group plc now owns 3,469,360 shares of the company's stock worth $19,083,000 after purchasing an additional 1,935,983 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Shoals Technologies Group by 14.6% during the third quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company's stock worth $73,533,000 after buying an additional 1,666,691 shares in the last quarter. Finally, Yaupon Capital Management LP acquired a new position in shares of Shoals Technologies Group in the third quarter valued at approximately $8,585,000.

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 that occurred on Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total value of $66,619.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 40,575 shares of company stock valued at $123,957. 1.67% of the stock is currently owned by corporate insiders.

Shoals Technologies Group Stock Performance

Shares of NASDAQ:SHLS traded down $0.15 during trading on Tuesday, hitting $3.24. 2,003,146 shares of the company traded hands, compared to its average volume of 5,683,853. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $10.79. The stock has a market capitalization of $540.23 million, a price-to-earnings ratio of 16.18, a PEG ratio of 0.52 and a beta of 1.54. 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 business's fifty day moving average is $3.70 and its 200-day moving average is $4.67.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The firm had revenue of $107.00 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. As a group, equities analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Royal Bank of Canada reduced their price target on Shoals Technologies Group from $9.00 to $7.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. The Goldman Sachs Group decreased their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Truist Financial cut their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Roth Mkm dropped their price objective on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Finally, UBS Group lowered their price target on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $8.87.

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.