Healthcare of Ontario Pension Plan Trust Fund Buys 8,918 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Healthcare of Ontario Pension Plan Trust Fund grew its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 1.6% in the third quarter, HoldingsChannel reports. The fund owned 551,055 shares of the company’s stock after acquiring an additional 8,918 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Shoals Technologies Group were worth $3,091,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC raised its position in Shoals Technologies Group by 48.9% in the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock worth $33,000 after purchasing an additional 1,906 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Shoals Technologies Group in the 2nd quarter valued at $54,000. Mackenzie Financial Corp bought a new stake in shares of Shoals Technologies Group during the second quarter worth $64,000. TrinityPoint Wealth LLC acquired a new position in shares of Shoals Technologies Group during the third quarter valued at $60,000. Finally, American Trust bought a new position in Shoals Technologies Group in the second quarter valued at about $68,000.

Analyst Upgrades and Downgrades

SHLS has been the topic of a number of research reports. Truist Financial cut their target price on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. BNP Paribas cut shares of Shoals Technologies Group from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $15.00 to $7.00 in a research note on Wednesday, August 7th. Northland Securities dropped their target price on shares of Shoals Technologies Group from $6.00 to $4.00 and set an “underperform” rating for the company in a research report on Thursday, August 8th. Jefferies Financial Group began coverage on Shoals Technologies Group in a research report on Wednesday, September 4th. They issued a “hold” rating and a $5.00 price target on the stock. Finally, Wells Fargo & Company assumed coverage on Shoals Technologies Group in a report on Monday, October 14th. They issued an “equal weight” rating and a $46.00 price objective for the company. Three equities 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 data from MarketBeat, Shoals Technologies Group currently has a consensus rating of “Hold” and a consensus target price of $11.31.

Shoals Technologies Group Stock Down 0.8 %

SHLS stock opened at $5.22 on Friday. The business has a 50-day moving average of $5.25 and a 200-day moving average of $5.97. Shoals Technologies Group, Inc. has a fifty-two week low of $4.07 and a fifty-two week high of $17.50. The stock has a market capitalization of $870.17 million, a P/E ratio of 26.10, a P/E/G ratio of 0.76 and a beta of 1.73. 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) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). The business had revenue of $102.20 million for the quarter, compared to the consensus estimate of $98.86 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. Shoals Technologies Group’s revenue was down 23.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share. On average, sell-side analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Shoals Technologies Group

In related news, CEO Brandon Moss purchased 22,300 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $4.55 per share, for a total transaction of $101,465.00. Following the completion of the purchase, the chief executive officer now directly owns 593,700 shares in the company, valued at $2,701,335. This trade represents a 3.90 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.67% of the stock is owned by insiders.

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.