CenterBook Partners LP purchased a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,761,829 shares of the company's stock, valued at approximately $12,489,000. Shoals Technologies Group comprises about 0.8% of CenterBook Partners LP's portfolio, making the stock its 23rd largest holding. CenterBook Partners LP owned 2.25% of Shoals Technologies Group at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in SHLS. MQS Management LLC bought a new position in Shoals Technologies Group during the 1st quarter valued at about $43,000. Cerity Partners LLC bought a new position in Shoals Technologies Group during the 1st quarter valued at about $43,000. Pallas Capital Advisors LLC bought a new position in Shoals Technologies Group during the 1st quarter valued at about $64,000. Wealth Enhancement Advisory Services LLC bought a new position in Shoals Technologies Group during the 1st quarter valued at about $65,000. Finally, American Trust bought a new position in Shoals Technologies Group during the 4th quarter valued at about $72,000.
Shoals Technologies Group Stock Down 1.1%
SHLS traded down $0.07 during trading on Thursday, hitting $5.75. The stock had a trading volume of 1,643,467 shares, compared to its average volume of 5,898,435. The company has a market capitalization of $960.42 million, a PE ratio of 47.79, a PEG ratio of 0.79 and a beta of 1.59. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $7.03. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.58 and a current ratio of 2.34. The stock has a 50 day simple moving average of $5.14 and a two-hundred day simple moving average of $4.41.
Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). The company had revenue of $80.36 million during the quarter, compared to analysts' expectations of $74.66 million. Shoals Technologies Group had a return on equity of 7.63% and a net margin of 4.90%. The company's quarterly revenue was down 11.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. On average, research analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts have commented on the stock. BNP Paribas Exane downgraded shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 target price on the stock. in a research note on Thursday, May 15th. Guggenheim upped their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Citigroup upped their target price on shares of Shoals Technologies Group from $4.50 to $5.50 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. BNP Paribas restated an "underperform" rating and issued a $4.00 target price (down from $4.50) on shares of Shoals Technologies Group in a research note on Thursday, May 15th. Finally, The Goldman Sachs Group upped their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $8.63.
View Our Latest Stock Report on Shoals Technologies Group
About Shoals Technologies Group
(
Free Report)
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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