American Century Companies Inc. Raises Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

American Century Companies Inc. increased its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 92.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,175 shares of the company's stock after buying an additional 80,624 shares during the period. American Century Companies Inc. owned 0.10% of Shoals Technologies Group worth $930,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Impax Asset Management Group plc raised its holdings in Shoals Technologies Group by 126.3% in the fourth quarter. Impax Asset Management Group plc now owns 3,469,360 shares of the company's stock worth $19,083,000 after purchasing an additional 1,935,983 shares during the period. RWC Asset Management LLP acquired a new stake in Shoals Technologies Group during the 4th quarter worth $1,891,000. Erste Asset Management GmbH lifted its holdings in Shoals Technologies Group by 3.7% during the fourth quarter. Erste Asset Management GmbH now owns 3,593,806 shares of the company's stock worth $20,269,000 after acquiring an additional 128,664 shares in the last quarter. Franklin Resources Inc. grew its stake in Shoals Technologies Group by 16.1% in the third quarter. Franklin Resources Inc. now owns 4,748,673 shares of the company's stock valued at $24,836,000 after acquiring an additional 658,617 shares during the period. Finally, Cidel Asset Management Inc. bought a new stake in shares of Shoals Technologies Group in the fourth quarter worth about $326,000.

Shoals Technologies Group Price Performance

Shoals Technologies Group stock traded up $0.14 during mid-day trading on Wednesday, reaching $3.43. 121,648 shares of the company's stock traded hands, compared to its average volume of 5,704,721. The stock has a 50 day moving average of $3.51 and a two-hundred day moving average of $4.54. Shoals Technologies Group, Inc. has a 12-month low of $2.71 and a 12-month high of $9.17. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. The company has a market cap of $573.46 million, a price-to-earnings ratio of 16.93, a PEG ratio of 0.52 and a beta of 1.54.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its quarterly earnings data 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). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The firm had revenue of $107.00 million during the quarter, compared to the consensus estimate of $102.16 million. During the same period in the previous year, the business earned $0.12 EPS. The firm's revenue for the quarter was down 17.9% on a year-over-year basis. Equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Insider Transactions at Shoals Technologies Group

In other news, CEO Brandon Moss sold 21,700 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total transaction of $66,619.00. Following the sale, the chief executive officer now owns 1,051,303 shares in the company, valued at approximately $3,227,500.21. The trade was a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 40,575 shares of company stock valued at $123,957. Corporate insiders own 1.67% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on SHLS shares. Truist Financial cut their price target on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Jefferies Financial Group lowered their target price on shares of Shoals Technologies Group from $4.60 to $3.40 and set a "hold" rating on the stock in a report on Wednesday, March 12th. JPMorgan Chase & Co. reduced 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. Barclays dropped their price objective on Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research note on Friday, January 17th. Finally, Royal Bank of Canada decreased their price target on shares of Shoals Technologies Group from $9.00 to $7.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Shoals Technologies Group presently has a consensus rating of "Hold" and an average price target of $8.87.

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.