Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP raised its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 8.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,233,342 shares of the company's stock after purchasing an additional 1,125,938 shares during the period. Wellington Management Group LLP owned about 8.52% of Shoals Technologies Group worth $78,710,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Shoals Technologies Group by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 17,163,583 shares of the company's stock valued at $94,915,000 after purchasing an additional 576,736 shares during the last quarter. Invesco Ltd. grew its holdings in Shoals Technologies Group by 20.7% in the fourth quarter. Invesco Ltd. now owns 6,415,911 shares of the company's stock valued at $35,480,000 after purchasing an additional 1,098,577 shares during the last quarter. Encompass Capital Advisors LLC grew its holdings in Shoals Technologies Group by 14.5% in the fourth quarter. Encompass Capital Advisors LLC now owns 5,410,245 shares of the company's stock valued at $29,919,000 after purchasing an additional 683,642 shares during the last quarter. Erste Asset Management GmbH grew its holdings in Shoals Technologies Group by 3.7% in the fourth quarter. Erste Asset Management GmbH now owns 3,593,806 shares of the company's stock valued at $20,269,000 after purchasing an additional 128,664 shares during the last quarter. Finally, Impax Asset Management Group plc grew its holdings in Shoals Technologies Group by 126.3% in the fourth 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 last quarter.

Shoals Technologies Group Trading Down 3.4%

NASDAQ:SHLS traded down $0.16 on Monday, hitting $4.56. 3,936,019 shares of the stock were exchanged, compared to its average volume of 5,984,568. The stock has a market cap of $762.32 million, a PE ratio of 22.80, a PEG ratio of 0.52 and a beta of 1.52. 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 stock has a fifty day moving average of $3.99 and a 200-day moving average of $4.31. Shoals Technologies Group, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $8.05.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its quarterly 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 firm 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 was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 earnings per share. As a group, equities analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Brandon Moss sold 21,700 shares of the stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total value of $66,619.00. Following the completion of the sale, the chief executive officer now owns 1,051,303 shares in the company, valued at approximately $3,227,500.21. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 40,575 shares of company stock worth $123,957. 1.67% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SHLS has been the topic of several research reports. BNP Paribas reissued an "underperform" rating and issued a $4.00 target price (down previously from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. The Goldman Sachs Group upped their price objective on Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Jefferies Financial Group reduced their price objective on Shoals Technologies Group from $4.60 to $3.40 and set a "hold" rating on the stock in a research report on Wednesday, March 12th. Citigroup upped their price objective on Shoals Technologies Group from $4.50 to $5.50 and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Finally, BNP Paribas Exane downgraded Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price objective on the stock. in a research report on Thursday, May 15th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Shoals Technologies Group presently has an average rating of "Hold" and an average 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.