Centiva Capital LP trimmed its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 93.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,622 shares of the company's stock after selling 266,749 shares during the period. Centiva Capital LP's holdings in Shoals Technologies Group were worth $110,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. Erste Asset Management GmbH bought a new stake in Shoals Technologies Group in the 3rd quarter valued at approximately $20,191,000. Point72 Europe London LLP acquired a new stake in shares of Shoals Technologies Group in the third quarter valued at approximately $1,461,000. Verition Fund Management LLC lifted its position in shares of Shoals Technologies Group by 938.3% in the third quarter. Verition Fund Management LLC now owns 2,251,093 shares of the company's stock worth $12,629,000 after purchasing an additional 2,034,291 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Shoals Technologies Group by 1.6% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 551,055 shares of the company's stock worth $3,091,000 after purchasing an additional 8,918 shares during the last quarter. Finally, FMR LLC grew its position 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 in the last quarter.
Shoals Technologies Group Stock Performance
Shares of SHLS stock remained flat at $4.41 on Friday. 2,980,978 shares of the company traded hands, compared to its average volume of 4,958,757. Shoals Technologies Group, Inc. has a fifty-two week low of $4.07 and a fifty-two week high of $17.50. The company has a market cap of $735.14 million, a P/E ratio of 22.05, a PEG ratio of 0.66 and a beta of 1.69. The business has a fifty day simple moving average of $5.06 and a 200 day simple moving average of $5.79. 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 (NASDAQ:SHLS - Get Free Report) last announced 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 analyst estimates of $98.86 million. During the same quarter in the previous year, the company earned $0.16 EPS. The business's revenue for the quarter was down 23.8% on a year-over-year basis. On average, research analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.
Insider Buying and Selling at Shoals Technologies Group
In other news, CEO Brandon Moss purchased 22,300 shares of the business's stock in a transaction dated Thursday, November 21st. The stock was bought at an average price of $4.55 per share, with a total value of $101,465.00. Following the acquisition, the chief executive officer now owns 593,700 shares in the company, valued at approximately $2,701,335. The trade was a 3.90 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold 8,920 shares of company stock valued at $45,863 in the last three months. Corporate insiders own 1.67% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on the stock. TD Cowen boosted their price target on shares of Shoals Technologies Group from $9.50 to $11.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Royal Bank of Canada reiterated an "outperform" rating and set a $11.00 target price on shares of Shoals Technologies Group in a report on Friday, September 6th. JPMorgan Chase & Co. decreased their price target on Shoals Technologies Group from $14.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, October 17th. Bank of America started coverage on Shoals Technologies Group in a research note on Monday, November 25th. They set a "buy" rating and a $6.00 price objective on the stock. Finally, Wells Fargo & Company began coverage on shares of Shoals Technologies Group in a research note on Monday, October 14th. They issued an "equal weight" rating and a $46.00 target price for the company. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $11.31.
Check Out Our Latest Report on SHLS
Shoals Technologies Group Profile
(
Free Report)
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.
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