Maven Securities LTD Acquires 5,000 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Maven Securities LTD boosted its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 11.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 50,000 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. Maven Securities LTD’s holdings in Shoals Technologies Group were worth $276,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Empirical Asset Management LLC bought a new position in Shoals Technologies Group in the fourth quarter worth approximately $59,000. Tower Research Capital LLC TRC grew its position in shares of Shoals Technologies Group by 20.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company’s stock worth $86,000 after buying an additional 2,652 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Shoals Technologies Group during the 4th quarter worth $87,000. Versor Investments LP bought a new stake in shares of Shoals Technologies Group in the fourth quarter valued at about $91,000. Finally, Granahan Investment Management LLC bought a new stake in shares of Shoals Technologies Group in the fourth quarter valued at about $99,000.

Shoals Technologies Group Stock Performance

SHLS opened at $6.03 on Wednesday. Shoals Technologies Group, Inc. has a 12-month low of $2.71 and a 12-month high of $8.52. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $1.01 billion, a PE ratio of 30.15, a P/E/G ratio of 0.52 and a beta of 1.52. The firm has a 50 day moving average of $3.56 and a two-hundred day moving average of $4.38.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business had revenue of $80.36 million for the quarter, compared to analysts’ expectations of $74.66 million. During the same period in the prior year, the business posted $0.07 earnings per share. The business’s quarterly revenue was down 11.2% compared to the same quarter last year. On average, analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Insider Activity at Shoals Technologies Group

In other news, CEO Brandon Moss sold 21,700 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $3,227,500.21. This represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 40,575 shares of company stock worth $123,957 in the last three months. Company insiders own 1.67% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. The Goldman Sachs Group upped their target price on Shoals Technologies Group from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Royal Bank of Canada reduced their price target on Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Roth Mkm reduced their target price on shares of Shoals Technologies Group from $5.00 to $4.50 and set a “neutral” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $8.77.

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.