Russell Investments Group Ltd. Has $301,000 Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Russell Investments Group Ltd. lessened its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 64.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,467 shares of the company's stock after selling 97,758 shares during the period. Russell Investments Group Ltd.'s holdings in Shoals Technologies Group were worth $301,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC increased its position 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 in the last quarter. Barclays PLC increased its holdings in shares of Shoals Technologies Group by 25.9% in 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. Franklin Resources Inc. raised its position in shares of Shoals Technologies Group by 16.1% during the third quarter. Franklin Resources Inc. now owns 4,748,673 shares of the company's stock worth $24,836,000 after purchasing an additional 658,617 shares during the period. Oddo BHF Asset Management Sas bought a new position in Shoals Technologies Group in the third quarter valued at approximately $692,000. Finally, Empirical Asset Management LLC acquired a new stake in shares of Shoals Technologies Group during the fourth quarter worth $59,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Oppenheimer lowered their target price 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. Roth Mkm cut their target price on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price target on Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Barclays cut their price objective on shares of Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Finally, The Goldman Sachs Group decreased 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $8.87.

Insider Buying and Selling

In related news, CEO Brandon Moss sold 21,700 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,051,303 shares of the company's stock, valued at $3,227,500.21. This trade represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 40,575 shares of company stock valued at $123,957 over the last ninety days. 1.67% of the stock is owned by company insiders.

Shoals Technologies Group Price Performance

Shoals Technologies Group stock traded up $0.10 during midday trading on Tuesday, reaching $3.83. The company's stock had a trading volume of 2,950,231 shares, compared to its average volume of 6,303,223. The stock has a market cap of $638.76 million, a PE ratio of 19.13, a price-to-earnings-growth ratio of 0.52 and a beta of 1.54. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. Shoals Technologies Group, Inc. has a 52 week low of $2.71 and a 52 week high of $9.17. The business has a 50-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 issued its earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The company had revenue of $107.00 million during 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 quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.12 EPS. On average, sell-side analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

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.