XTX Topco Ltd Sells 92,175 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

XTX Topco Ltd lowered its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 68.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,929 shares of the company's stock after selling 92,175 shares during the quarter. XTX Topco Ltd's holdings in Shoals Technologies Group were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Empirical Asset Management LLC purchased a new position in shares of Shoals Technologies Group during the 4th quarter valued at $59,000. Cibc World Markets Corp bought a new position in shares of Shoals Technologies Group in the 4th quarter valued at approximately $87,000. Versor Investments LP bought a new stake in Shoals Technologies Group during the fourth quarter worth approximately $91,000. Stratos Wealth Partners LTD. acquired a new position in Shoals Technologies Group during the fourth quarter valued at approximately $110,000. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Shoals Technologies Group in the fourth quarter worth $124,000.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays cut their target price on shares of Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Truist Financial decreased their target price on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a research note on Thursday, January 16th. Oppenheimer cut their price target on Shoals Technologies Group from $11.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, January 28th. UBS Group lowered their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Wednesday, February 26th. Finally, Roth Mkm cut their target price on shares of Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating for the company in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Shoals Technologies Group presently has a consensus rating of "Hold" and an average target price of $8.87.

Shoals Technologies Group Price Performance

Shares of SHLS traded up $0.16 on Thursday, hitting $3.77. The company's stock had a trading volume of 2,440,307 shares, compared to its average volume of 5,797,290. The company has a market capitalization of $628.74 million, a PE ratio of 18.73, a PEG ratio of 0.52 and a beta of 1.54. Shoals Technologies Group, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $9.17. The company has a 50 day moving average price of $3.34 and a 200 day moving average price of $4.41. 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 (NASDAQ:SHLS - Get Free Report) last announced 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 return on equity of 9.83% and a net margin of 7.78%. The business had revenue of $107.00 million for the quarter, compared to the consensus estimate of $102.16 million. During the same quarter in the previous year, the company posted $0.12 EPS. Shoals Technologies Group's revenue for the quarter was down 17.9% on a year-over-year basis. On average, research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brandon Moss sold 21,700 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,051,303 shares of the company's stock, valued at $3,227,500.21. This trade represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders sold 40,575 shares of company stock valued at $123,957. Insiders own 1.67% of the company's stock.

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.