Grandeur Peak Global Advisors LLC Has $2.39 Million Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Grandeur Peak Global Advisors LLC trimmed its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 16.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 431,378 shares of the company's stock after selling 82,388 shares during the period. Grandeur Peak Global Advisors LLC owned approximately 0.26% of Shoals Technologies Group worth $2,386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of SHLS. FMR LLC lifted its stake in Shoals Technologies Group by 48.9% in the 3rd quarter. FMR LLC now owns 5,806 shares of the company's stock valued at $33,000 after acquiring an additional 1,906 shares in the last quarter. Janus Henderson Group PLC lifted its position in Shoals Technologies Group by 2.3% during the 3rd quarter. Janus Henderson Group PLC now owns 294,598 shares of the company's stock worth $1,653,000 after buying an additional 6,503 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Shoals Technologies Group by 33.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 147,187 shares of the company's stock worth $826,000 after buying an additional 37,008 shares during the last quarter. Barclays PLC raised its holdings in Shoals Technologies Group by 25.9% during the third quarter. Barclays PLC now owns 291,242 shares of the company's stock worth $1,634,000 after acquiring an additional 59,856 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Shoals Technologies Group by 16.1% in the 3rd quarter. Franklin Resources Inc. now owns 4,748,673 shares of the company's stock valued at $24,836,000 after buying an additional 658,617 shares during the last quarter.

Shoals Technologies Group Trading Up 2.3 %

Shares of NASDAQ:SHLS traded up $0.08 during mid-day trading on Thursday, reaching $3.41. 1,684,194 shares of the company's stock were exchanged, compared to its average volume of 5,695,884. The firm has a market capitalization of $568.62 million, a price-to-earnings ratio of 16.98, a PEG 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. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $9.17. The business's fifty day moving average price is $3.49 and its 200-day moving average price is $4.53.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported $0.08 EPS 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 during the quarter, compared to the consensus estimate of $102.16 million. During the same quarter in the previous year, the company earned $0.12 earnings per share. The business's revenue was down 17.9% on a year-over-year basis. On average, research analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on SHLS shares. Wolfe Research assumed coverage on Shoals Technologies Group in a report on Tuesday, February 18th. They set a "peer perform" rating for the company. Oppenheimer cut their price target on Shoals Technologies Group from $11.00 to $10.00 and set an "outperform" rating for the company in a report on Tuesday, January 28th. Mizuho cut their target price on shares of Shoals Technologies Group from $7.00 to $6.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Jefferies Financial Group cut their price objective on shares of Shoals Technologies Group from $4.60 to $3.40 and set a "hold" rating for the company in a research report on Wednesday, March 12th. Finally, Truist Financial decreased their target price on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $8.87.

Insider Activity at Shoals Technologies Group

In related 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 transaction of $66,619.00. Following the sale, the chief executive officer now owns 1,051,303 shares in the company, valued at $3,227,500.21. This represents a 2.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.

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.