Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 478,524 shares of the company's stock after purchasing an additional 56,176 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.29% of Shoals Technologies Group worth $2,646,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SHLS. Two Sigma Investments LP raised its position in Shoals Technologies Group by 40.6% during the fourth quarter. Two Sigma Investments LP now owns 657,589 shares of the company's stock valued at $3,636,000 after purchasing an additional 189,754 shares during the period. State of Wyoming raised its holdings in Shoals Technologies Group by 250.7% during the 4th quarter. State of Wyoming now owns 15,117 shares of the company's stock valued at $84,000 after buying an additional 10,806 shares during the period. Raiffeisen Bank International AG bought a new stake in Shoals Technologies Group in the fourth quarter worth $1,692,000. Redwood Grove Capital LLC lifted its position in Shoals Technologies Group by 12.8% in the fourth quarter. Redwood Grove Capital LLC now owns 2,054,273 shares of the company's stock worth $11,360,000 after buying an additional 233,373 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in Shoals Technologies Group by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 73,817 shares of the company's stock worth $408,000 after buying an additional 24,287 shares during the period.

Shoals Technologies Group Stock Up 2.0%

Shares of NASDAQ SHLS traded up $0.10 during trading hours on Tuesday, hitting $5.20. 4,524,873 shares of the stock were exchanged, compared to its average volume of 5,964,071. Shoals Technologies Group, Inc. has a 12 month low of $2.71 and a 12 month high of $7.96. The firm has a fifty day moving average price of $4.20 and a 200-day moving average price of $4.33. 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 company has a market cap of $869.31 million, a PE ratio of 26.00, a PEG ratio of 0.52 and a beta of 1.64.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued 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 business 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 business's revenue for the quarter was down 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. On average, sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

SHLS has been the topic of several recent analyst reports. The Goldman Sachs Group increased their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Guggenheim upped 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 Friday, May 9th. BNP Paribas reaffirmed an "underperform" rating and issued a $4.00 price objective (down previously from $4.50) on shares of Shoals Technologies Group in a research report on Thursday, May 15th. Citigroup increased their target price on Shoals Technologies Group from $4.50 to $5.50 and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada cut their price target on shares of Shoals Technologies Group from $9.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $8.45.

Shoals Technologies Group Company 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.