Sei Investments Co. Has $97,000 Stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Sei Investments Co. trimmed its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 85.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,455 shares of the company's stock after selling 102,519 shares during the period. Sei Investments Co.'s holdings in Shoals Technologies Group were worth $97,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Shoals Technologies Group by 48.9% in the third 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. Empirical Asset Management LLC purchased a new position in shares of Shoals Technologies Group in the 4th quarter worth $59,000. Cibc World Markets Corp acquired a new position in Shoals Technologies Group in the fourth quarter valued at $87,000. Versor Investments LP purchased a new stake in Shoals Technologies Group during the fourth quarter valued at about $91,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in Shoals Technologies Group during the fourth quarter worth about $110,000.

Shoals Technologies Group Price Performance

Shares of NASDAQ SHLS traded down $0.08 during mid-day trading on Thursday, reaching $3.26. 447,659 shares of the company traded hands, compared to its average volume of 6,344,450. The firm has a market cap of $543.57 million, a PE ratio of 16.28, a price-to-earnings-growth ratio of 0.52 and a beta of 1.54. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. Shoals Technologies Group, Inc. has a fifty-two week low of $2.71 and a fifty-two week high of $9.17. The stock has a fifty day simple moving average of $3.49 and a 200-day simple moving average of $4.53.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The firm had revenue of $107.00 million during the quarter, compared to the consensus estimate of $102.16 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The firm's quarterly revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.12 EPS. Equities research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Insider Activity at Shoals Technologies Group

In other news, CEO Brandon Moss sold 21,700 shares of the business's stock in a transaction 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 sale, the chief executive officer now directly owns 1,051,303 shares of the company's stock, valued at $3,227,500.21. The trade was a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 40,575 shares of company stock valued at $123,957 over the last ninety days. Insiders own 1.67% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Piper Sandler decreased their target price on Shoals Technologies Group from $8.00 to $6.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Barclays dropped their price objective on shares of Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. Roth Mkm lowered their price target on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Wolfe Research began coverage on Shoals Technologies Group in a research note on Tuesday, February 18th. They set a "peer perform" rating on the stock. Finally, UBS Group dropped their target price on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $8.87.

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.