1 week Ago By Defense World Staff
Legal & General Group Plc decreased its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS – Free Report) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission.
The firm owned 185,461 shares of the company’s stock after selling 10,298 shares during the period. Legal & General Group Plc owned 0.11% of Shoals Technologies Group worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Empirical Asset Management LLC bought a new position in Shoals Technologies Group during the 4th quarter worth approximately $59,000. Cibc World Markets Corp bought a new position in Shoals Technologies Group during the fourth quarter worth $87,000.
Versor Investments LP bought a new position in Shoals Technologies Group during the fourth quarter worth $91,000. Stratos Wealth Partners LTD. acquired a new position in Shoals Technologies Group in the fourth quarter valued at $110,000.
Finally, ExodusPoint Capital Management LP bought a new stake in Shoals Technologies Group during the fourth quarter valued at $124,000. Shoals Technologies Group Stock Up 7.1 %SHLS opened at $3.
64 on Monday. Shoals Technologies Group, Inc. has a fifty-two week low of $2.
71 and a fifty-two week high of $9.17. The company has a debt-to-equity ratio of 0.
26, a current ratio of 2.08 and a quick ratio of 1.36.
The company’s 50-day moving average is $3.39 and its 200 day moving average is $4.43.
The firm has a market capitalization of $607.86 million, a P/E ratio of 18.20, a PEG ratio of 0.
52 and a beta of 1.54. Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last released its earnings results on Wednesday, February 26th.
The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.
01). The business had revenue of $107.00 million during the quarter, compared to the consensus estimate 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 was down 17.9% on a year-over-year basis.
During the same period in the prior year, the company earned $0.12 earnings per share. Research analysts expect that Shoals Technologies Group, Inc.
will post 0.29 earnings per share for the current fiscal year. Wall Street Analysts Forecast GrowthA number of brokerages have recently issued reports on SHLS.
Truist Financial dropped 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 Thursday, January 16th.
Wolfe Research assumed coverage on Shoals Technologies Group in a research note on Tuesday, February 18th. They issued a “peer perform” rating on the stock. Mizuho reduced their price objective on shares of Shoals Technologies Group from $7.
00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Oppenheimer dropped their target price on shares of Shoals Technologies Group from $11.
00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Finally, Barclays reduced their price target on shares of Shoals Technologies Group from $5.
00 to $4.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company.
According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $8.87.Get Our Latest Analysis on SHLSInsider Buying and SellingIn other Shoals Technologies Group 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 transaction of $66,619.00.
Following the completion of the transaction, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 40,575 shares of company stock worth $123,957.
Insiders own 1.67% of the company’s stock. Shoals Technologies Group Company Profile (Free Report)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.Further ReadingFive stocks we like better than Shoals Technologies Group3 Stocks to Protect Your Portfolio from the Coronavirus Contagion Texas Instruments: Earnings Beat, Upbeat Guidance Fuel Recovery3 Best Fintech Stocks for a Portfolio BoostO’Reilly Automotive: An Anytime Buy for Buy-and-Hold InvestorsExpert Stock Trading Psychology TipsChipotle Mexican Grill Serves Smoking Hot Entry Point in Q2Want to see what other hedge funds are holding SHLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shoals Technologies Group, Inc.
(NASDAQ:SHLS – Free Report)..
