2 weeks Ago By Defense World Staff
Bank of Montreal Can raised its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS – Free Report) by 63.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC.
The institutional investor owned 72,627 shares of the company’s stock after purchasing an additional 28,319 shares during the quarter. Bank of Montreal Can’s holdings in Shoals Technologies Group were worth $402,000 as of its most recent SEC filing. A number of other institutional investors and hedge funds also recently modified their holdings of SHLS.
Impax Asset Management Group plc raised its holdings in shares of Shoals Technologies Group by 126.3% during the fourth quarter. Impax Asset Management Group plc now owns 3,469,360 shares of the company’s stock worth $19,083,000 after acquiring an additional 1,935,983 shares in the last quarter.
RWC Asset Management LLP bought a new position in Shoals Technologies Group during the fourth quarter valued at about $1,891,000. Erste Asset Management GmbH increased its holdings in 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 valued at $20,269,000 after buying an additional 128,664 shares during the period. Franklin Resources Inc. boosted its holdings in Shoals Technologies Group by 16.
1% during the third quarter. Franklin Resources Inc. now owns 4,748,673 shares of the company’s stock valued at $24,836,000 after purchasing an additional 658,617 shares in the last quarter.
Finally, Cidel Asset Management Inc. bought a new stake in shares of Shoals Technologies Group in the 4th quarter worth about $326,000. Shoals Technologies Group Stock Up 3.
1 %Shares of NASDAQ:SHLS opened at $3.35 on Wednesday. The company has a market capitalization of $559.
43 million, a PE ratio of 16.75, a price-to-earnings-growth ratio of 0.52 and a beta of 1.
54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.
36 and a current ratio of 2.08. The company has a fifty day moving average of $3.
42 and a 200-day moving average of $4.47. Shoals Technologies Group, Inc.
has a 52-week low of $2.71 and a 52-week high of $9.17.
Shoals Technologies Group (NASDAQ:SHLS – Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.
09 by ($0.01). Shoals Technologies Group had a return on equity of 9.
83% and a net margin of 7.78%. The company had revenue of $107.
00 million for the quarter, compared to the consensus estimate of $102.16 million. During the same quarter last year, the business earned $0.
12 earnings per share. Shoals Technologies Group’s revenue was down 17.9% compared to the same quarter last year.
On average, equities analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.
Insider Buying and Selling at Shoals Technologies GroupIn other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total value of $66,619.
00. Following the completion of the sale, the chief executive officer now directly owns 1,051,303 shares in the company, valued at approximately $3,227,500.21.
This trade 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 hyperlink.
Over the last quarter, insiders have sold 40,575 shares of company stock valued at $123,957. 1.67% of the stock is currently owned by insiders.
Analyst Upgrades and DowngradesA number of research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Shoals Technologies Group from $11.
00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Wolfe Research assumed coverage on Shoals Technologies Group in a report on Tuesday, February 18th.
They set a “peer perform” rating on the stock. Piper Sandler cut their price objective on shares of Shoals Technologies Group from $8.00 to $6.
00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Mizuho lowered their price objective on shares of Shoals Technologies Group from $7.00 to $6.
00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Barclays cut their price objective on shares of Shoals Technologies Group from $5.00 to $4.
00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.
com, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.87.Get Our Latest Stock Report on SHLSShoals Technologies Group 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.Featured ArticlesFive stocks we like better than Shoals Technologies GroupOptions Trading – Understanding Strike PriceHow to Invest in Micro-Cap Stocks Like a ProConsumer Discretionary Stocks ExplainedInvestors Sell Microsoft Stock on OpenAI News—Time to Buy? Why is the Ex-Dividend Date Significant to Investors?Take-Two Interactive: A Defensive Play Set to ExplodeWant 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)..
