Brevan Howard Capital Management LP Invests $390,000 in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Brevan Howard Capital Management LP acquired a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 70,569 shares of the company's stock, valued at approximately $390,000.

Several other institutional investors have also recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new position in shares of Shoals Technologies Group in the fourth quarter worth about $3,107,000. Ameriprise Financial Inc. raised its stake in Shoals Technologies Group by 45.3% during the 4th quarter. Ameriprise Financial Inc. now owns 1,882,420 shares of the company's stock valued at $10,410,000 after purchasing an additional 587,235 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in Shoals Technologies Group during the 4th quarter valued at approximately $238,000. Freestone Grove Partners LP bought a new stake in Shoals Technologies Group during the 4th quarter valued at approximately $2,895,000. Finally, Comerica Bank raised its stake in Shoals Technologies Group by 73.2% during the 4th quarter. Comerica Bank now owns 162,648 shares of the company's stock valued at $899,000 after purchasing an additional 68,725 shares during the period.

Shoals Technologies Group Trading Up 1.3%

SHLS traded up $0.08 during trading hours on Wednesday, reaching $6.11. 11,042,120 shares of the company's stock traded hands, compared to its average volume of 5,938,130. The firm has a 50-day moving average price of $3.56 and a 200 day moving average price of $4.38. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $8.52. 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 firm has a market capitalization of $1.02 billion, a PE ratio of 30.55, a PEG ratio of 0.52 and a beta of 1.52.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). The firm had revenue of $80.36 million for the quarter, compared to the consensus estimate of $74.66 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 11.2% on a year-over-year basis. During the same period last year, the firm earned $0.07 earnings per share. As a group, sell-side analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on SHLS shares. Roth Mkm decreased their target price on 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. Mizuho decreased their target price on Shoals Technologies Group from $7.00 to $6.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Wolfe Research started coverage on Shoals Technologies Group in a research note on Tuesday, February 18th. They set a "peer perform" rating on the stock. The Goldman Sachs Group lifted their target price on Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Guggenheim raised their price target on Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a report on Friday, May 9th. Two 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. Based on data from MarketBeat, Shoals Technologies Group has an average rating of "Moderate Buy" and a consensus price target of $8.77.

Insider Buying and Selling at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of Shoals Technologies Group stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total transaction of $66,619.00. Following the completion of the sale, the chief executive officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 40,575 shares of company stock valued at $123,957 in the last ninety days. Corporate insiders own 1.67% of the company's stock.

Shoals Technologies Group 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.