Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Acquired by Trexquant Investment LP

Trexquant Investment LP increased its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 40.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,000,551 shares of the company's stock after purchasing an additional 571,956 shares during the quarter. Trexquant Investment LP owned 1.20% of Shoals Technologies Group worth $11,063,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Point72 Asset Management L.P. lifted its stake in shares of Shoals Technologies Group by 460.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 6,844,222 shares of the company's stock worth $38,396,000 after acquiring an additional 5,622,207 shares during the last quarter. Norges Bank purchased a new position in Shoals Technologies Group in the 4th quarter worth about $12,472,000. Impax Asset Management Group plc increased its holdings in Shoals Technologies Group by 126.3% during the fourth quarter. Impax Asset Management Group plc now owns 3,469,360 shares of the company's stock valued at $19,083,000 after buying an additional 1,935,983 shares during the period. Wellington Management Group LLP increased its holdings in shares of Shoals Technologies Group by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company's stock valued at $73,533,000 after acquiring an additional 1,666,691 shares during the period. Finally, Yaupon Capital Management LP purchased a new position in Shoals Technologies Group in the third quarter valued at about $8,585,000.

Analyst Ratings Changes

SHLS has been the subject of several recent analyst reports. Mizuho reduced their price objective on shares of Shoals Technologies Group from $7.00 to $6.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Wolfe Research began coverage on shares of Shoals Technologies Group in a research note on Tuesday, February 18th. They issued a "peer perform" rating on the stock. Morgan Stanley raised Shoals Technologies Group from an "equal weight" rating to an "overweight" rating and set a $7.00 price target on the stock in a research report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their price objective on shares of 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, Piper Sandler lowered their price target on shares of Shoals Technologies Group from $8.00 to $6.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Three research 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. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.87.

Shoals Technologies Group Trading Up 7.4 %

Shares of SHLS stock traded up $0.23 during trading hours on Monday, hitting $3.37. 4,688,460 shares of the company were exchanged, compared to its average volume of 5,669,191. The firm has a fifty day moving average of $3.73 and a 200 day moving average of $4.69. 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, Inc. has a 1 year low of $2.71 and a 1 year high of $10.79. The firm has a market cap of $563.11 million, a PE ratio of 16.83, a PEG ratio of 0.52 and a beta of 1.54.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its quarterly 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 firm's revenue for the quarter was down 17.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 EPS. Analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Brandon Moss sold 21,700 shares of Shoals Technologies Group stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total transaction of $66,619.00. Following the transaction, the chief executive officer now owns 1,051,303 shares in the company, valued at approximately $3,227,500.21. The trade was a 2.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 40,575 shares of company stock valued at $123,957. 1.67% of the stock is currently owned by corporate insiders.

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.