Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Sold by XTX Topco Ltd

XTX Topco Ltd lessened its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 68.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period.

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

Insider Transactions at Shoals Technologies Group

In related news, CEO Brandon Moss sold 21,700 shares of the firm'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 directly owns 1,051,303 shares in the company, 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 link. Insiders have sold a total of 40,575 shares of company stock worth $123,957 in the last quarter. Company insiders own 1.67% of the company's stock.

Shoals Technologies Group Price Performance

Shares of NASDAQ SHLS traded down $0.03 during mid-day trading on Friday, reaching $3.75. The company's stock had a trading volume of 2,038,448 shares, compared to its average volume of 5,802,251. The stock has a 50-day moving average of $3.33 and a two-hundred day moving average of $4.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. The stock has a market capitalization of $625.40 million, a P/E ratio of 18.73, a P/E/G ratio of 0.52 and a beta of 1.54. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $9.17.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $102.16 million. During the same period last year, the business earned $0.12 earnings per share. The company's revenue for the quarter was down 17.9% compared to the same quarter last year. On average, equities research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SHLS. UBS Group reduced their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Oppenheimer decreased their price objective 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. The Goldman Sachs Group dropped their target price on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Wolfe Research assumed coverage on Shoals Technologies Group in a research report on Tuesday, February 18th. They issued a "peer perform" rating on the stock. Finally, 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 report on Friday, January 17th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $8.87.

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.