GW&K Investment Management LLC Has $26.07 Million Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

GW&K Investment Management LLC lifted its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,677,457 shares of the company's stock after purchasing an additional 105,320 shares during the period. GW&K Investment Management LLC owned about 0.99% of Shoals Technologies Group worth $26,067,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SHLS. Bank of New York Mellon Corp lifted its holdings in shares of Shoals Technologies Group by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 607,444 shares of the company's stock valued at $11,086,000 after purchasing an additional 5,059 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Shoals Technologies Group by 47.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,436,774 shares of the company's stock valued at $26,221,000 after purchasing an additional 463,600 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Shoals Technologies Group by 27.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 17,169 shares of the company's stock valued at $313,000 after purchasing an additional 3,742 shares during the last quarter. Trium Capital LLP purchased a new stake in shares of Shoals Technologies Group in the 3rd quarter valued at about $93,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Shoals Technologies Group by 4.3% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,158 shares of the company's stock valued at $496,000 after acquiring an additional 1,121 shares during the period.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SHLS shares. Mizuho dropped their price target on Shoals Technologies Group from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Wednesday, May 8th. The Goldman Sachs Group dropped their price target on Shoals Technologies Group from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, March 1st. Northland Capmk cut Shoals Technologies Group from a "hold" rating to a "strong sell" rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. dropped their target price on Shoals Technologies Group from $32.00 to $26.00 and set an "overweight" rating on the stock in a research report on Thursday, February 29th. Finally, Royal Bank of Canada dropped their target price on Shoals Technologies Group from $20.00 to $17.00 and set an "outperform" rating on the stock in a research report on Thursday, February 29th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Shoals Technologies Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.29.

Shoals Technologies Group Price Performance

SHLS stock traded up $0.84 on Wednesday, reaching $7.64. The company had a trading volume of 14,356,768 shares, compared to its average volume of 4,319,926. Shoals Technologies Group, Inc. has a 1 year low of $6.28 and a 1 year high of $28.34. The company has a market cap of $1.30 billion, a P/E ratio of 43.45 and a beta of 1.86. The company's fifty day moving average is $9.44 and its 200 day moving average is $12.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.87 and a current ratio of 2.62.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.04). Shoals Technologies Group had a return on equity of 13.95% and a net margin of 6.42%. The business had revenue of $130.44 million for the quarter, compared to analysts' expectations of $131.89 million. On average, research analysts forecast that Shoals Technologies Group, Inc. will post 0.44 earnings per share 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.