103,015 Shares in Shoals Technologies Group, Inc. (NASDAQ:SHLS) Purchased by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 103,015 shares of the company's stock, valued at approximately $570,000. BI Asset Management Fondsmaeglerselskab A S owned about 0.06% of Shoals Technologies Group as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its position in Shoals Technologies Group by 48.9% in the 3rd quarter. FMR LLC now owns 5,806 shares of the company's stock worth $33,000 after purchasing an additional 1,906 shares during the last quarter. Barclays PLC increased its stake in shares of Shoals Technologies Group by 25.9% in the 3rd quarter. Barclays PLC now owns 291,242 shares of the company's stock valued at $1,634,000 after buying an additional 59,856 shares during the period. Franklin Resources Inc. raised its position in shares of Shoals Technologies Group by 16.1% during the third quarter. Franklin Resources Inc. now owns 4,748,673 shares of the company's stock worth $24,836,000 after acquiring an additional 658,617 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Shoals Technologies Group during the third quarter valued at $692,000. Finally, Empirical Asset Management LLC bought a new position in Shoals Technologies Group in the fourth quarter valued at about $59,000.

Shoals Technologies Group Stock Up 2.3 %

Shares of SHLS stock traded up $0.09 during trading hours on Tuesday, hitting $3.82. 1,548,417 shares of the company were exchanged, compared to its average volume of 5,762,009. The business has a 50 day moving average of $3.38 and a two-hundred day moving average of $4.42. The company has a market capitalization of $637.09 million, a PE ratio of 19.03, a PEG ratio of 0.52 and a beta of 1.54. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. Shoals Technologies Group, Inc. has a 52 week low of $2.71 and a 52 week high of $9.17.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The firm had revenue of $107.00 million for the quarter, compared to analyst estimates of $102.16 million. During the same period in the prior year, the company earned $0.12 earnings per share. The firm's quarterly revenue was down 17.9% on a year-over-year basis. Analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Shoals Technologies Group

In other news, CEO Brandon Moss sold 21,700 shares of the business'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 sale, the chief executive officer now owns 1,051,303 shares of the company's stock, valued at $3,227,500.21. The trade was a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 40,575 shares of company stock valued at $123,957 in the last ninety days. 1.67% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wolfe Research initiated coverage on Shoals Technologies Group in a report on Tuesday, February 18th. They set a "peer perform" rating for the company. UBS Group dropped their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company 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. Oppenheimer dropped 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 report on Tuesday, January 28th. Finally, Truist Financial cut their price target on 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Shoals Technologies Group has an average rating of "Hold" and an average price target of $8.87.

About Shoals Technologies Group

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.