Y Intercept Hong Kong Ltd Has $89,000 Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Y Intercept Hong Kong Ltd lowered its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS - Free Report) by 89.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,129 shares of the company's stock after selling 131,058 shares during the period. Y Intercept Hong Kong Ltd's holdings in Shoals Technologies Group were worth $89,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. FMR LLC raised its stake 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 worth $33,000 after buying an additional 1,906 shares in the last quarter. Empirical Asset Management LLC bought a new stake in shares of Shoals Technologies Group in the 4th quarter worth $59,000. TrinityPoint Wealth LLC bought a new stake in shares of Shoals Technologies Group in the 3rd quarter worth $60,000. GSA Capital Partners LLP acquired a new position in shares of Shoals Technologies Group in the 3rd quarter worth $104,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Shoals Technologies Group in the 4th quarter worth $110,000.

Insiders Place Their Bets

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of the business's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total value 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. The trade was a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 35,975 shares of company stock valued at $110,633 over the last quarter. Insiders own 1.67% of the company's stock.

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Wall Street Analyst Weigh In

SHLS has been the topic of a number of recent research reports. Royal Bank of Canada decreased their target price on Shoals Technologies Group from $9.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. UBS Group decreased 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. Oppenheimer decreased their target price on Shoals Technologies Group from $11.00 to $10.00 and set an "outperform" rating on the stock in a report on Tuesday, January 28th. TD Cowen lifted their target price on Shoals Technologies Group from $9.50 to $11.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Truist Financial decreased 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 Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.95.

Shoals Technologies Group Stock Down 6.3 %

NASDAQ SHLS traded down $0.19 on Friday, reaching $2.82. The stock had a trading volume of 8,242,578 shares, compared to its average volume of 5,486,536. The business has a 50 day moving average price of $4.58 and a 200 day moving average price of $5.05. 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 1 year low of $2.77 and a 1 year high of $13.44. The company has a market capitalization of $470.09 million, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.52 and a beta of 1.69.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm had revenue of $107.00 million during the quarter, compared to analysts' expectations of $102.16 million. During the same quarter last year, the firm earned $0.12 EPS. The business's revenue for the quarter was down 17.9% compared to the same quarter last year. On average, analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal 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.