UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 13.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 478,524 shares of the company's stock after acquiring an additional 56,176 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.29% of Shoals Technologies Group worth $2,646,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. State of Wyoming grew its position in 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 period. Tower Research Capital LLC TRC boosted its position in shares of Shoals Technologies Group by 20.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company's stock worth $86,000 after buying an additional 2,652 shares during the period. Cibc World Markets Corp purchased a new stake in shares of Shoals Technologies Group in the fourth quarter worth about $87,000. Versor Investments LP purchased a new stake in shares of Shoals Technologies Group in the fourth quarter worth about $91,000. Finally, Granahan Investment Management LLC purchased a new stake in shares of Shoals Technologies Group in the fourth quarter worth about $99,000.
Shoals Technologies Group Price Performance
Shares of SHLS traded up $0.22 on Friday, hitting $5.16. The company's stock had a trading volume of 3,947,968 shares, compared to its average volume of 5,965,151. The company has a market capitalization of $862.62 million, a PE ratio of 25.80, a PEG ratio of 0.52 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. Shoals Technologies Group, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $7.96. The company has a 50 day moving average price of $4.12 and a 200 day moving average price of $4.32.
Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.02 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 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 was down 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. On average, research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.
Analysts Set New Price Targets
SHLS has been the topic of several recent analyst reports. Jefferies Financial Group cut their price target 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. The Goldman Sachs Group lifted their price objective on Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. BNP Paribas Exane lowered Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price objective on the stock. in a research note on Thursday, May 15th. Wolfe Research assumed coverage on Shoals Technologies Group in a research note on Tuesday, February 18th. They issued a "peer perform" rating on the stock. Finally, Mizuho lifted their target price on Shoals Technologies Group from $6.00 to $7.00 and gave the stock an "outperform" rating in a research report on Monday, June 2nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Shoals Technologies Group presently has an average rating of "Hold" and a consensus price target of $8.45.
Get Our Latest Report on SHLS
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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