Oddo BHF Asset Management Sas Invests $692,000 in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Oddo BHF Asset Management Sas acquired a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 123,424 shares of the company's stock, valued at approximately $692,000. Oddo BHF Asset Management Sas owned 0.07% of Shoals Technologies Group at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its stake in shares of 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 buying an additional 1,906 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Shoals Technologies Group in the second quarter worth approximately $54,000. TrinityPoint Wealth LLC purchased a new position in Shoals Technologies Group in the third quarter worth approximately $60,000. Mackenzie Financial Corp acquired a new position in Shoals Technologies Group during the 2nd quarter worth approximately $64,000. Finally, American Trust purchased a new stake in shares of Shoals Technologies Group in the 2nd quarter valued at approximately $68,000.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Shoals Technologies Group in a research note on Wednesday, September 4th. They set a "hold" rating and a $5.00 target price for the company. Wells Fargo & Company started coverage on Shoals Technologies Group in a report on Monday, October 14th. They issued an "equal weight" rating and a $46.00 price objective on the stock. Roth Mkm cut their target price on Shoals Technologies Group from $7.00 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, September 6th. Morgan Stanley dropped their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Friday, November 15th. Finally, Bank of America began coverage on shares of Shoals Technologies Group in a research report on Monday, November 25th. They issued a "buy" rating and a $6.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $11.31.

Shoals Technologies Group Stock Performance

NASDAQ:SHLS remained flat at $4.41 during mid-day trading on Friday. 2,980,978 shares of the company were exchanged, compared to its average volume of 4,569,187. Shoals Technologies Group, Inc. has a 1 year low of $4.07 and a 1 year high of $17.50. The firm's fifty day moving average price is $5.06 and its 200 day moving average price is $5.79. The stock has a market cap of $735.15 million, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 0.64 and a beta of 1.69. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business had revenue of $102.20 million for the quarter, compared to analysts' expectations of $98.86 million. During the same period last year, the company posted $0.16 earnings per share. The business's quarterly revenue was down 23.8% on a year-over-year basis. As a group, sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brandon Moss acquired 22,300 shares of the company's stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average cost of $4.55 per share, with a total value of $101,465.00. Following the purchase, the chief executive officer now directly owns 593,700 shares of the company's stock, valued at approximately $2,701,335. This trade represents a 3.90 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders have sold 8,920 shares of company stock worth $45,863. Corporate 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.