561,811 Shares in Shoals Technologies Group, Inc. (NASDAQ:SHLS) Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets purchased a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 561,811 shares of the company's stock, valued at approximately $3,107,000. BNP Paribas Financial Markets owned 0.34% of Shoals Technologies Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empirical Asset Management LLC bought a new position in shares of Shoals Technologies Group in the fourth quarter valued at $59,000. Tower Research Capital LLC TRC lifted its position in Shoals Technologies Group by 20.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company's stock valued at $86,000 after acquiring an additional 2,652 shares in the last quarter. Cibc World Markets Corp bought a new position in Shoals Technologies Group in the 4th quarter valued at about $87,000. Versor Investments LP acquired a new position in Shoals Technologies Group during the 4th quarter valued at about $91,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Shoals Technologies Group during the 4th quarter valued at about $110,000.

Shoals Technologies Group Stock Performance

NASDAQ SHLS traded down $0.16 during trading on Wednesday, hitting $4.64. 305,081 shares of the company's stock traded hands, compared to its average volume of 6,015,684. The stock has a market capitalization of $774.02 million, a price-to-earnings ratio of 23.18, a PEG ratio of 0.52 and a beta of 1.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. The business has a 50 day moving average of $3.76 and a 200-day moving average of $4.37. Shoals Technologies Group, Inc. has a 12-month low of $2.71 and a 12-month high of $8.52.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.02). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business had revenue of $80.36 million during the quarter, compared to the consensus estimate of $74.66 million. During the same period last year, the business posted $0.07 earnings per share. The firm's quarterly revenue was down 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brandon Moss sold 21,700 shares of the firm's stock in a transaction that occurred 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. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 40,575 shares of company stock worth $123,957. 1.67% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SHLS has been the topic of a number of recent research reports. Mizuho dropped their target price on Shoals Technologies Group from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. Wolfe Research started coverage on Shoals Technologies Group in a research report on Tuesday, February 18th. They issued a "peer perform" rating for the company. Citigroup raised their price objective on Shoals Technologies Group from $4.50 to $5.50 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Oppenheimer reduced their target price on shares of Shoals Technologies Group from $11.00 to $10.00 and set an "outperform" rating for the company in a research note on Tuesday, January 28th. Finally, Roth Mkm lowered their target price on shares of Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $8.40.

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.