Mackenzie Financial Corp Acquires 16,631 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Mackenzie Financial Corp grew its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 19.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,251 shares of the company’s stock after buying an additional 16,631 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of Shoals Technologies Group worth $1,620,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of SHLS. Vontobel Holding Ltd. boosted its holdings in shares of Shoals Technologies Group by 3.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 41,342 shares of the company’s stock worth $754,000 after buying an additional 1,430 shares in the last quarter. SG Americas Securities LLC boosted its holdings in shares of Shoals Technologies Group by 28.3% during the 3rd quarter. SG Americas Securities LLC now owns 38,573 shares of the company’s stock worth $704,000 after buying an additional 8,511 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Shoals Technologies Group during the 3rd quarter worth approximately $48,000. Asset Management One Co. Ltd. bought a new position in shares of Shoals Technologies Group during the 3rd quarter worth approximately $1,425,000. Finally, Handelsbanken Fonder AB boosted its holdings in shares of Shoals Technologies Group by 2,692.6% during the 3rd quarter. Handelsbanken Fonder AB now owns 628,332 shares of the company’s stock worth $11,467,000 after buying an additional 605,832 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. TD Cowen cut their target price on Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Janney Montgomery Scott assumed coverage on Shoals Technologies Group in a report on Friday, January 19th. They issued a “buy” rating and a $20.00 target price on the stock. Barclays cut their target price on Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 5th. The Goldman Sachs Group cut their target price on Shoals Technologies Group from $26.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, March 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $24.00 price target on shares of Shoals Technologies Group in a research report on Wednesday, March 13th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Shoals Technologies Group has an average rating of “Moderate Buy” and an average price target of $20.94.

Shoals Technologies Group Stock Up 0.4 %

Shares of NASDAQ SHLS opened at $8.46 on Wednesday. Shoals Technologies Group, Inc. has a 52 week low of $8.06 and a 52 week high of $28.34. The business has a 50-day simple moving average of $12.06 and a two-hundred day simple moving average of $13.81. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 0.33. The company has a market cap of $1.44 billion, a P/E ratio of 33.84 and a beta of 1.79.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.04). Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. The company had revenue of $130.44 million during the quarter, compared to the consensus estimate of $131.89 million. Research analysts anticipate that Shoals Technologies Group, Inc. will post 0.51 earnings per share for the current fiscal year.

Shoals Technologies Group Company 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.