Bryce Point Capital LLC Takes $1.20 Million Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Bryce Point Capital LLC purchased a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 216,190 shares of the company's stock, valued at approximately $1,196,000. Bryce Point Capital LLC owned about 0.13% of Shoals Technologies Group as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. FMR LLC boosted its holdings in Shoals Technologies Group by 48.9% in the 3rd quarter. FMR LLC now owns 5,806 shares of the company's stock worth $33,000 after buying an additional 1,906 shares during the period. Empirical Asset Management LLC purchased a new stake in shares of Shoals Technologies Group in the 4th quarter valued at about $59,000. Cibc World Markets Corp bought a new stake in Shoals Technologies Group during the fourth quarter valued at approximately $87,000. Versor Investments LP bought a new position in shares of Shoals Technologies Group in the 4th quarter worth $91,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in Shoals Technologies Group during the fourth quarter valued at about $110,000.

Shoals Technologies Group Stock Performance

SHLS traded up $0.09 during trading on Friday, hitting $3.14. The company's stock had a trading volume of 5,174,951 shares, compared to its average volume of 5,671,860. The business's 50 day simple moving average is $3.73 and its 200-day simple moving average is $4.70. The firm has a market cap of $524.36 million, a PE ratio of 15.70, a P/E/G ratio of 0.52 and a beta of 1.54. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $10.79. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26.

Remove Ads

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 for the quarter, missing the consensus estimate of $0.09 by ($0.01). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company had revenue of $107.00 million for the quarter, compared to analysts' expectations of $102.16 million. During the same quarter last year, the firm posted $0.12 earnings per share. Shoals Technologies Group's revenue for the quarter was down 17.9% on a year-over-year basis. As a group, sell-side analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Brandon Moss sold 21,700 shares of the company's stock in a transaction dated 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 $3,227,500.21. This represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 40,575 shares of company stock worth $123,957 over the last three months. 1.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on SHLS shares. Morgan Stanley raised shares of Shoals Technologies Group from an "equal weight" rating to an "overweight" rating and set a $7.00 price target on the stock in a research note on Tuesday, December 17th. Wolfe Research began coverage on shares of Shoals Technologies Group in a research report on Tuesday, February 18th. They issued a "peer perform" rating on the stock. Oppenheimer cut their price objective on 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. Truist Financial dropped their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. decreased their target price on Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $8.87.

About Shoals Technologies Group

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.