Nuveen Asset Management LLC Has $3.68 Million Stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Nuveen Asset Management LLC lifted its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 37.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 665,331 shares of the company's stock after buying an additional 181,444 shares during the quarter. Nuveen Asset Management LLC owned about 0.40% of Shoals Technologies Group worth $3,679,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of Shoals Technologies Group during the 4th quarter worth approximately $185,000. Stratos Wealth Partners LTD. acquired a new stake in Shoals Technologies Group during the 4th quarter worth $110,000. Cidel Asset Management Inc. bought a new stake in shares of Shoals Technologies Group during the 4th quarter valued at $326,000. RWC Asset Management LLP bought a new stake in shares of Shoals Technologies Group during the 4th quarter valued at $1,891,000. Finally, Impax Asset Management Group plc lifted its stake in shares of Shoals Technologies Group by 126.3% in the 4th quarter. Impax Asset Management Group plc now owns 3,469,360 shares of the company's stock valued at $19,083,000 after purchasing an additional 1,935,983 shares during the period.

Shoals Technologies Group Stock Up 0.2%

Shares of NASDAQ:SHLS traded up $0.01 during midday trading on Wednesday, reaching $4.88. The company had a trading volume of 1,564,698 shares, compared to its average volume of 5,959,387. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $7.96. The stock has a market cap of $815.81 million, a PE ratio of 24.40, a P/E/G ratio of 0.52 and a beta of 1.52. 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 business's 50 day moving average price is $4.02 and its 200 day moving average price is $4.31.

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 for the quarter, missing the consensus estimate of $0.04 by ($0.02). The company had revenue of $80.36 million for the quarter, compared to analyst estimates of $74.66 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The firm's revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. Research analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SHLS has been the subject of several recent analyst reports. BNP Paribas Exane downgraded shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 target price for the company. in a research note on Thursday, May 15th. Jefferies Financial Group decreased their price objective on Shoals Technologies Group from $4.60 to $3.40 and set a "hold" rating for the company in a research report on Wednesday, March 12th. Roth Mkm lowered their target price on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Citigroup lifted their price target on shares of Shoals Technologies Group from $4.50 to $5.50 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, BNP Paribas reiterated an "underperform" rating and issued a $4.00 price target (down previously from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Shoals Technologies Group currently has an average rating of "Hold" and a consensus price target of $8.45.

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.