Frontier Capital Management Co. LLC Grows Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Frontier Capital Management Co. LLC boosted its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 34.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,501,876 shares of the company’s stock after purchasing an additional 641,328 shares during the period. Frontier Capital Management Co. LLC owned approximately 1.50% of Shoals Technologies Group worth $13,835,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Empirical Asset Management LLC purchased a new stake in Shoals Technologies Group during the 4th quarter valued at approximately $59,000. Tower Research Capital LLC TRC raised its stake in shares of Shoals Technologies Group by 20.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company’s stock worth $86,000 after purchasing an additional 2,652 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of Shoals Technologies Group during the fourth quarter worth $87,000. Versor Investments LP purchased a new position in Shoals Technologies Group in the 4th quarter valued at $91,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Shoals Technologies Group in the 4th quarter valued at $110,000.

Insider Buying and Selling

In other news, CEO Brandon Moss sold 21,700 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total value of $66,619.00. Following the completion of the transaction, the chief executive officer now owns 1,051,303 shares of the company’s stock, valued at approximately $3,227,500.21. This represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold a total of 40,575 shares of company stock worth $123,957 over the last quarter. 1.67% of the stock is owned by company insiders.

Shoals Technologies Group Price Performance

SHLS opened at $4.82 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $8.52. The company has a 50-day moving average of $3.41 and a 200-day moving average of $4.38. The company has a market capitalization of $804.92 million, a P/E ratio of 24.10, a PEG ratio of 0.52 and a beta of 1.52.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.02). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm had revenue of $80.36 million for the quarter, compared to analyst estimates of $74.66 million. During the same quarter in the previous year, the company earned $0.07 EPS. The company’s quarterly revenue was down 11.2% compared to the same quarter last year. Equities analysts expect that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SHLS. Truist Financial lowered their price target 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 Thursday, January 16th. JPMorgan Chase & Co. reduced their target price on Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. The Goldman Sachs Group upped their price objective on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday. Wolfe Research assumed coverage on shares of Shoals Technologies Group in a research report on Tuesday, February 18th. They issued a “peer perform” rating on the stock. Finally, Oppenheimer dropped their price target on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Two 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 has a consensus rating of “Moderate Buy” and a consensus price target of $8.82.

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.