Fuller & Thaler Asset Management Inc. Invests $616,000 in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Fuller & Thaler Asset Management Inc. acquired a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 111,370 shares of the company's stock, valued at approximately $616,000. Fuller & Thaler Asset Management Inc. owned about 0.07% of Shoals Technologies Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in shares of Shoals Technologies Group by 20.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company's stock valued at $86,000 after purchasing an additional 2,652 shares during the period. Barclays PLC boosted its holdings in shares of Shoals Technologies Group by 3.3% during the fourth quarter. Barclays PLC now owns 300,910 shares of the company's stock worth $1,665,000 after purchasing an additional 9,668 shares during the period. Empirical Asset Management LLC bought a new stake in shares of Shoals Technologies Group in the fourth quarter worth about $59,000. Federated Hermes Inc. increased its holdings in Shoals Technologies Group by 0.8% during the 4th quarter. Federated Hermes Inc. now owns 1,693,684 shares of the company's stock valued at $9,366,000 after purchasing an additional 14,159 shares during the period. Finally, Cibc World Markets Corp bought a new position in Shoals Technologies Group during the 4th quarter valued at approximately $87,000.

Shoals Technologies Group Stock Up 2.5 %

NASDAQ SHLS traded up $0.09 during mid-day trading on Monday, reaching $3.73. The stock had a trading volume of 5,465,274 shares, compared to its average volume of 5,778,371. The stock has a market cap of $622.89 million, a PE ratio of 18.65, a price-to-earnings-growth ratio of 0.52 and a beta of 1.54. Shoals Technologies Group, Inc. has a 1 year low of $2.71 and a 1 year 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 has a fifty day moving average price of $3.38 and a 200 day moving average price of $4.42.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly 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 return on equity of 9.83% and a net margin of 7.78%. The business had revenue of $107.00 million during the quarter, compared to analysts' expectations of $102.16 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The firm's revenue for the quarter was down 17.9% compared to the same quarter last year. On average, research analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Jefferies Financial Group reduced their target price on Shoals Technologies Group from $4.60 to $3.40 and set a "hold" rating on the stock in a research note on Wednesday, March 12th. Royal Bank of Canada reduced their price objective on shares of Shoals Technologies Group from $9.00 to $7.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. The Goldman Sachs Group 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 Wednesday, February 26th. Oppenheimer reduced their price target 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, JPMorgan Chase & Co. lowered their price objective on shares of Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating for the company in a report on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Shoals Technologies Group presently has an average rating of "Hold" and an average target price of $8.87.

Insider Activity at Shoals Technologies Group

In other 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 transaction, the chief executive officer now directly owns 1,051,303 shares of the company's stock, valued at $3,227,500.21. This represents a 2.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 40,575 shares of company stock worth $123,957 over the last quarter. Company insiders own 1.67% of the company's stock.

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.