Frontier Capital Management Co. LLC Has $13.84 Million Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Frontier Capital Management Co. LLC increased its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 34.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,501,876 shares of the company's stock after purchasing an additional 641,328 shares during the quarter. Frontier Capital Management Co. LLC owned about 1.50% of Shoals Technologies Group worth $13,835,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Empirical Asset Management LLC acquired a new stake in Shoals Technologies Group in the fourth quarter worth about $59,000. Tower Research Capital LLC TRC lifted its holdings in 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 purchasing an additional 2,652 shares during the period. Cibc World Markets Corp acquired a new stake in Shoals Technologies Group in the fourth quarter worth about $87,000. Versor Investments LP acquired a new stake in Shoals Technologies Group in the fourth quarter worth about $91,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Shoals Technologies Group in the fourth quarter worth about $110,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SHLS. Jefferies Financial Group reduced their price objective on shares of Shoals Technologies Group from $4.60 to $3.40 and set a "hold" rating for the company in a report on Wednesday, March 12th. 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 for the company in a report on Wednesday, February 26th. Oppenheimer cut their price target on shares of Shoals Technologies Group from $11.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, January 28th. Piper Sandler cut their price target on shares of Shoals Technologies Group from $8.00 to $6.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, The Goldman Sachs Group upped their price target on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $8.77.

Insider Activity

In other news, CEO Brandon Moss sold 21,700 shares of the company's 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 transaction, the chief executive officer now owns 1,051,303 shares in the company, valued at $3,227,500.21. This represents a 2.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 40,575 shares of company stock worth $123,957 in the last 90 days. Company insiders own 1.67% of the company's stock.

Shoals Technologies Group Trading Up 5.2%

NASDAQ SHLS traded up $0.25 on Friday, hitting $5.07. 9,728,512 shares of the company were exchanged, compared to its average volume of 5,859,393. The company's 50 day moving average price is $3.45 and its 200-day moving average price is $4.37. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. The firm has a market capitalization of $846.66 million, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 0.52 and a beta of 1.52. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $8.52.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates 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 net margin of 7.78% and a return on equity of 9.83%. Shoals Technologies Group's revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. Analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Shoals Technologies Group 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.