Invenomic Capital Management LP Has $9.42 Million Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Invenomic Capital Management LP trimmed its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 13.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,703,506 shares of the company's stock after selling 263,629 shares during the period. Invenomic Capital Management LP owned approximately 1.02% of Shoals Technologies Group worth $9,420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in Shoals Technologies Group by 20.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company's stock valued at $86,000 after acquiring an additional 2,652 shares in the last quarter. Barclays PLC grew its stake in Shoals Technologies Group by 3.3% in the 4th quarter. Barclays PLC now owns 300,910 shares of the company's stock valued at $1,665,000 after buying an additional 9,668 shares during the last quarter. Empirical Asset Management LLC bought a new position in shares of Shoals Technologies Group in the fourth quarter worth about $59,000. Electron Capital Partners LLC increased its position in Shoals Technologies Group by 15.3% in the 4th quarter. Electron Capital Partners LLC now owns 90,460 shares of the company's stock worth $500,000 after buying an additional 12,013 shares during the period. Finally, Federated Hermes Inc. raised its stake in Shoals Technologies Group by 0.8% during the 4th quarter. Federated Hermes Inc. now owns 1,693,684 shares of the company's stock valued at $9,366,000 after purchasing an additional 14,159 shares during the last quarter.

Insider Buying and Selling

In related news, CEO Brandon Moss sold 21,700 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total value of $66,619.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders sold 40,575 shares of company stock worth $123,957. 1.67% of the stock is owned by corporate insiders.

Shoals Technologies Group Stock Up 6.1%

SHLS traded up $0.28 during trading on Friday, reaching $4.86. The company had a trading volume of 11,165,098 shares, compared to its average volume of 6,038,388. The business's fifty day moving average price is $3.66 and its 200 day moving average price is $4.39. 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 12 month low of $2.71 and a 12 month high of $8.52. The company has a market cap of $811.60 million, a P/E ratio of 24.30, a PEG ratio of 0.52 and a beta of 1.52.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). The firm had revenue of $80.36 million for the quarter, compared to the consensus estimate of $74.66 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. Shoals Technologies Group's revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter last year, the company posted $0.07 EPS. Equities analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SHLS. Wolfe Research assumed coverage on Shoals Technologies Group in a research report on Tuesday, February 18th. They issued a "peer perform" rating for the company. Piper Sandler dropped their target price on shares of Shoals Technologies Group from $8.00 to $6.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. Roth Mkm cut their price target 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. Oppenheimer reduced their price objective on Shoals Technologies Group from $11.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, January 28th. Finally, Barclays dropped their price objective on Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Four analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $8.40.

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.