Royce & Associates LP Makes New Investment in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Royce & Associates LP bought a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 170,000 shares of the company's stock, valued at approximately $940,000. Royce & Associates LP owned approximately 0.10% of Shoals Technologies Group at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in shares of Shoals Technologies Group in the 3rd quarter worth $104,000. Intech Investment Management LLC bought a new stake in shares of Shoals Technologies Group in the third quarter valued at about $255,000. Algert Global LLC lifted its stake in Shoals Technologies Group by 124.3% in the third quarter. Algert Global LLC now owns 202,811 shares of the company's stock worth $1,138,000 after acquiring an additional 112,380 shares during the period. Dynamic Technology Lab Private Ltd grew its holdings in Shoals Technologies Group by 10.5% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 120,670 shares of the company's stock worth $677,000 after acquiring an additional 11,441 shares in the last quarter. Finally, FMR LLC increased 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 purchasing an additional 1,906 shares during the period.

Analyst Ratings Changes

A number of research firms have recently issued reports on SHLS. Truist Financial dropped their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Roth Mkm cut their price target on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Morgan Stanley upgraded Shoals Technologies Group from an "equal weight" rating to an "overweight" rating and set a $7.00 price objective for the company in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut their target price on Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. Finally, Oppenheimer decreased their price target on shares of Shoals Technologies Group from $11.00 to $10.00 and set an "outperform" rating for the company in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Shoals Technologies Group currently has a consensus rating of "Hold" and an average price target of $8.87.

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Insider Activity at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of Shoals Technologies Group 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 completion of the transaction, the chief executive officer now owns 1,051,303 shares in the company, valued at approximately $3,227,500.21. This trade represents a 2.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 40,575 shares of company stock worth $123,957 over the last three months. Company insiders own 0.36% of the company's stock.

Shoals Technologies Group Stock Performance

Shares of NASDAQ:SHLS traded down $0.02 during trading on Wednesday, hitting $3.40. The stock had a trading volume of 4,352,925 shares, compared to its average volume of 5,593,297. 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, Inc. has a 12-month low of $2.71 and a 12-month high of $12.09. The stock has a market capitalization of $567.78 million, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. The stock has a 50-day simple moving average of $3.94 and a two-hundred day simple moving average of $4.86.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.08 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 analyst estimates of $102.16 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The business's revenue was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.12 earnings per share. On average, equities research analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

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.