Fuller & Thaler Asset Management Inc. Takes $616,000 Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Fuller & Thaler Asset Management Inc. purchased a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 111,370 shares of the company's stock, valued at approximately $616,000. Fuller & Thaler Asset Management Inc. owned 0.07% of Shoals Technologies Group at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Empirical Asset Management LLC bought a new position in Shoals Technologies Group in the fourth quarter valued at $59,000. Tower Research Capital LLC TRC boosted its holdings in shares of Shoals Technologies Group by 20.6% in the 4th 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 in the last quarter. Cibc World Markets Corp purchased a new position in shares of Shoals Technologies Group in the 4th quarter worth about $87,000. Versor Investments LP purchased a new position in shares of Shoals Technologies Group in the 4th quarter worth about $91,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Shoals Technologies Group in the 4th quarter worth about $110,000.

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 shares were sold at an average price of $3.07, for a total transaction of $66,619.00. Following the completion of the sale, the chief executive officer now owns 1,051,303 shares of the company's stock, valued at $3,227,500.21. This represents a 2.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 40,575 shares of company stock valued at $123,957 in the last quarter. 1.67% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SHLS has been the subject of a number of research reports. JPMorgan Chase & Co. cut their price objective on Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Roth Mkm cut their price objective on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Truist Financial cut their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Royal Bank of Canada cut their price objective on Shoals Technologies Group from $9.00 to $7.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Finally, UBS Group dropped their target price on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Three investment 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. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $8.87.

Shoals Technologies Group Stock Up 4.0 %

SHLS traded up $0.15 during trading on Thursday, hitting $3.76. 1,726,963 shares of the company's stock traded hands, compared to its average volume of 5,794,005. The company's 50 day simple moving average is $3.34 and its two-hundred day simple moving average is $4.41. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. Shoals Technologies Group, Inc. has a 12-month low of $2.71 and a 12-month high of $9.17. The stock has a market capitalization of $627.07 million, a price-to-earnings ratio of 18.78, a PEG ratio of 0.52 and a beta of 1.54.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The business had revenue of $107.00 million for the quarter, compared to analysts' expectations of $102.16 million. During the same quarter in the prior year, the business posted $0.12 earnings per share. The business's revenue for the quarter was down 17.9% on a year-over-year basis. 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.