Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Sold by Voloridge Investment Management LLC

Voloridge Investment Management LLC lessened its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 55.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 463,869 shares of the company's stock after selling 588,694 shares during the period. Voloridge Investment Management LLC owned approximately 0.28% of Shoals Technologies Group worth $2,565,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. State of Wyoming boosted its stake in shares of Shoals Technologies Group by 250.7% during the fourth quarter. State of Wyoming now owns 15,117 shares of the company's stock valued at $84,000 after acquiring an additional 10,806 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in Shoals Technologies Group by 20.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company's stock valued at $86,000 after purchasing an additional 2,652 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of Shoals Technologies Group in the 4th quarter worth approximately $87,000. Versor Investments LP acquired a new position in shares of Shoals Technologies Group in the 4th quarter worth approximately $91,000. Finally, Granahan Investment Management LLC acquired a new position in shares of Shoals Technologies Group during the fourth quarter valued at $99,000.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SHLS shares. Jefferies Financial Group dropped their price objective on Shoals Technologies Group from $4.60 to $3.40 and set a "hold" rating on the stock in a research note on Wednesday, March 12th. UBS Group decreased their price target on 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. Guggenheim upped 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. BNP Paribas reaffirmed 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. Finally, Wolfe Research initiated coverage on Shoals Technologies Group in a report on Tuesday, February 18th. They issued a "peer perform" rating for the company. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Shoals Technologies Group presently has an average rating of "Hold" and an average price target of $8.40.

Insiders Place Their Bets

In related news, CEO Brandon Moss sold 21,700 shares of the stock in a transaction dated 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 owns 1,051,303 shares of the company's stock, valued at approximately $3,227,500.21. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders sold 40,575 shares of company stock worth $123,957. Corporate insiders own 1.67% of the company's stock.

Shoals Technologies Group Stock Up 10.9%

Shares of SHLS stock traded up $0.47 during midday trading on Friday, reaching $4.78. 7,748,122 shares of the stock were exchanged, compared to its average volume of 5,992,795. Shoals Technologies Group, Inc. has a 1 year low of $2.71 and a 1 year high of $8.05. The company's 50 day moving average is $3.97 and its two-hundred day moving average is $4.31. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The firm has a market cap of $799.10 million, a PE ratio of 23.90, a price-to-earnings-growth ratio of 0.52 and a beta of 1.52.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $80.36 million during 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 business's revenue was down 11.2% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share. On average, equities research analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

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.