Graham Capital Management L.P. Makes New Investment in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Graham Capital Management L.P. purchased a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 221,814 shares of the company's stock, valued at approximately $1,227,000. Graham Capital Management L.P. owned 0.13% of Shoals Technologies Group as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC grew its stake in shares of Shoals Technologies Group by 189.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 123,695 shares of the company's stock valued at $684,000 after purchasing an additional 80,911 shares during the period. Impax Asset Management Group plc grew its stake in shares of Shoals Technologies Group by 126.3% in the 4th 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 period. RWC Asset Management LLP bought a new stake in shares of Shoals Technologies Group in the 4th quarter valued at approximately $1,891,000. Erste Asset Management GmbH grew its stake in shares of Shoals Technologies Group by 3.7% in the 4th 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 period. Finally, Decade Renewable Partners LP bought a new stake in shares of Shoals Technologies Group in the 4th quarter valued at approximately $1,300,000.

Analyst Ratings Changes

Several research firms have recently weighed in on SHLS. Piper Sandler lowered their price objective on Shoals Technologies Group from $8.00 to $6.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Oppenheimer decreased their price target on Shoals Technologies Group from $11.00 to $10.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 28th. UBS Group decreased their price target on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, February 26th. Wolfe Research initiated coverage on Shoals Technologies Group in a research report on Tuesday, February 18th. They set a "peer perform" rating on the stock. Finally, Royal Bank of Canada decreased their price target on Shoals Technologies Group from $9.00 to $7.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Shoals Technologies Group has an average rating of "Hold" and a consensus target price of $8.40.

Insider Activity

In related news, CEO Brandon Moss sold 21,700 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total transaction of $66,619.00. Following the sale, the chief executive officer now owns 1,051,303 shares of the company's stock, valued at approximately $3,227,500.21. This trade represents a 2.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold a total of 40,575 shares of company stock valued at $123,957 in the last 90 days. 1.67% of the stock is owned by company insiders.

Shoals Technologies Group Trading Up 6.1%

Shares of SHLS stock traded up $0.28 during trading hours on Friday, reaching $4.86. The company had a trading volume of 11,165,098 shares, compared to its average volume of 6,048,428. The company has a 50 day moving average of $3.70 and a 200 day moving average of $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 cap of $811.60 million, a price-to-earnings ratio of 24.30, a P/E/G ratio of 0.52 and a beta of 1.52. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $8.52.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly 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 company 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%. The business's revenue for the quarter was down 11.2% compared to the same quarter last year. During the same period last year, the company earned $0.07 EPS. On average, equities research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

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.