DRW Securities LLC Makes New $3.83 Million Investment in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

DRW Securities LLC bought a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 692,349 shares of the company's stock, valued at approximately $3,829,000. DRW Securities LLC owned about 0.42% of Shoals Technologies Group as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC boosted its position in Shoals Technologies Group by 48.9% during the 3rd quarter. FMR LLC now owns 5,806 shares of the company's stock valued at $33,000 after buying an additional 1,906 shares during the period. Janus Henderson Group PLC raised its holdings in Shoals Technologies Group by 2.3% in the third quarter. Janus Henderson Group PLC now owns 294,598 shares of the company's stock worth $1,653,000 after purchasing an additional 6,503 shares in the last quarter. Wellington Management Group LLP boosted its stake in Shoals Technologies Group by 14.6% during the third quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company's stock worth $73,533,000 after acquiring an additional 1,666,691 shares in the last quarter. XTX Topco Ltd increased its stake in shares of Shoals Technologies Group by 346.6% during the third quarter. XTX Topco Ltd now owns 135,104 shares of the company's stock valued at $758,000 after purchasing an additional 104,850 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in shares of Shoals Technologies Group by 33.6% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 147,187 shares of the company's stock worth $826,000 after purchasing an additional 37,008 shares in the last quarter.

Shoals Technologies Group Price Performance

Shares of NASDAQ:SHLS traded down $0.30 during midday trading on Monday, reaching $3.11. 1,551,891 shares of the company were exchanged, compared to its average volume of 5,719,468. The stock has a market cap of $519.35 million, a PE ratio of 15.55, a price-to-earnings-growth ratio of 0.52 and a beta of 1.54. The business's fifty day moving average is $3.56 and its two-hundred day moving average is $4.57. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $9.20.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $102.16 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share. As a group, analysts predict 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 stock in a transaction that occurred 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 transaction, 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 Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 40,575 shares of company stock worth $123,957. 1.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Roth Mkm cut their target price on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Oppenheimer decreased their target price on shares of Shoals Technologies Group from $11.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, January 28th. JPMorgan Chase & Co. cut 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. Barclays decreased 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 report on Friday, January 17th. Finally, Piper Sandler reduced their target price on Shoals Technologies Group from $8.00 to $6.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Three 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.com, the company currently has a consensus rating of "Hold" and a consensus price target of $8.87.

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.