KBC Group NV Has $1.11 Million Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

KBC Group NV decreased its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 62.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 197,489 shares of the company's stock after selling 330,971 shares during the period. KBC Group NV owned approximately 0.12% of Shoals Technologies Group worth $1,108,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SHLS. 1620 Investment Advisors Inc. acquired a new stake in shares of Shoals Technologies Group during the second quarter worth approximately $54,000. Mackenzie Financial Corp acquired a new position in shares of Shoals Technologies Group in the 2nd quarter valued at about $64,000. Paloma Partners Management Co acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at about $115,000. American Trust acquired a new stake in Shoals Technologies Group in the second quarter worth $68,000. Finally, Versor Investments LP acquired a new stake in Shoals Technologies Group in the second quarter worth $80,000.

Wall Street Analysts Forecast Growth

SHLS has been the subject of several analyst reports. Oppenheimer reduced their price objective on Shoals Technologies Group from $14.00 to $12.00 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. BNP Paribas cut shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and lowered their target price for the company from $15.00 to $7.00 in a research note on Wednesday, August 7th. Barclays lowered their target price on shares of Shoals Technologies Group from $7.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Wednesday, November 13th. Roth Capital cut shares of Shoals Technologies Group from a "hold" rating to a "strong sell" rating in a research note on Wednesday, August 7th. Finally, UBS Group lowered their target price on shares of Shoals Technologies Group from $12.00 to $9.00 and set a "buy" rating on the stock in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Shoals Technologies Group has a consensus rating of "Hold" and a consensus price target of $11.92.

Shoals Technologies Group Stock Down 2.6 %

Shoals Technologies Group stock traded down $0.11 during mid-day trading on Tuesday, hitting $4.15. 5,538,994 shares of the company's stock were exchanged, compared to its average volume of 4,997,171. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The stock has a market cap of $691.58 million, a P/E ratio of 20.75, a P/E/G ratio of 0.67 and a beta of 1.73. Shoals Technologies Group, Inc. has a 1-year low of $4.14 and a 1-year high of $17.50. The stock has a 50 day moving average of $5.47 and a two-hundred day moving average of $6.11.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). The firm had revenue of $102.20 million during the quarter, compared to analyst estimates of $98.86 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. Shoals Technologies Group's quarterly revenue was down 23.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 earnings per share. As a group, analysts anticipate that Shoals Technologies Group, Inc. will post 0.28 EPS for the current fiscal year.

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.