692,349 Shares in Shoals Technologies Group, Inc. (NASDAQ:SHLS) Bought by DRW Securities LLC

DRW Securities LLC bought a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 692,349 shares of the company’s stock, valued at approximately $3,829,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Shoals Technologies Group by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 17,163,583 shares of the company’s stock worth $94,915,000 after purchasing an additional 576,736 shares during the last quarter. Wellington Management Group LLP grew its position in Shoals Technologies Group by 8.6% during the fourth quarter. Wellington Management Group LLP now owns 14,233,342 shares of the company’s stock worth $78,710,000 after buying an additional 1,125,938 shares in the last quarter. Invesco Ltd. increased its stake in Shoals Technologies Group by 20.7% during the fourth quarter. Invesco Ltd. now owns 6,415,911 shares of the company’s stock valued at $35,480,000 after acquiring an additional 1,098,577 shares during the period. Franklin Resources Inc. raised its holdings in Shoals Technologies Group by 16.1% in the 3rd quarter. Franklin Resources Inc. now owns 4,748,673 shares of the company’s stock valued at $24,836,000 after acquiring an additional 658,617 shares in the last quarter. Finally, Erste Asset Management GmbH lifted its position in shares of Shoals Technologies Group by 3.7% in the 4th quarter. Erste Asset Management GmbH now owns 3,593,806 shares of the company’s stock worth $20,269,000 after acquiring an additional 128,664 shares during the period.

Shoals Technologies Group Trading Down 6.2 %

Shares of NASDAQ SHLS opened at $3.17 on Wednesday. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $10.63. The company has a 50-day moving average of $3.65 and a two-hundred day moving average of $4.64. The company has a market cap of $529.37 million, a PE ratio of 15.85, a P/E/G ratio of 0.52 and a beta of 1.54. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly 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). The company had revenue of $107.00 million during the quarter, compared to analyst estimates of $102.16 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.12 EPS. As a group, equities analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Shoals Technologies Group

In other news, CEO Brandon Moss sold 21,700 shares of Shoals Technologies Group stock in a transaction that occurred on 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 owns 1,051,303 shares in the company, valued at $3,227,500.21. The trade was a 2.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 40,575 shares of company stock worth $123,957 over the last 90 days. 1.67% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on SHLS. Truist Financial lowered their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley upgraded shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research note on Tuesday, December 17th. Jefferies Financial Group lowered their target price on shares of Shoals Technologies Group from $4.60 to $3.40 and set a “hold” rating on the stock in a research note on Wednesday, March 12th. Piper Sandler cut their price target on shares of Shoals Technologies Group from $8.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, UBS Group lowered their price objective on 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. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average 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.