Natixis Advisors LP boosted its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Rating) by 86.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 30,400 shares of the company’s stock after acquiring an additional 14,091 shares during the period. Natixis Advisors LP’s holdings in Shoals Technologies Group were worth $750,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of SHLS. Raymond James & Associates lifted its holdings in Shoals Technologies Group by 1.1% in the first quarter. Raymond James & Associates now owns 90,966 shares of the company’s stock worth $1,550,000 after acquiring an additional 1,034 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Shoals Technologies Group by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 341,154 shares of the company’s stock valued at $5,813,000 after buying an additional 9,067 shares during the last quarter. US Bancorp DE raised its holdings in shares of Shoals Technologies Group by 700.2% during the first quarter. US Bancorp DE now owns 6,450 shares of the company’s stock valued at $110,000 after buying an additional 5,644 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Shoals Technologies Group by 41.1% during the first quarter. Bank of Montreal Can now owns 33,244 shares of the company’s stock valued at $597,000 after buying an additional 9,691 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new stake in shares of Shoals Technologies Group during the first quarter valued at approximately $36,000. Institutional investors own 81.94% of the company’s stock.
Insider Buying and Selling
In related news, President Jeffery Tolnar sold 3,575 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $19.73, for a total value of $70,534.75. Following the completion of the transaction, the president now owns 66,044 shares of the company’s stock, valued at approximately $1,303,048.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, President Jeffery Tolnar sold 3,575 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $19.73, for a total value of $70,534.75. Following the completion of the transaction, the president now owns 66,044 shares of the company’s stock, valued at approximately $1,303,048.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason R. Whitaker sold 12,032 shares of the firm’s stock in a transaction that occurred on Tuesday, January 24th. The stock was sold at an average price of $28.66, for a total transaction of $344,837.12. Following the completion of the transaction, the chief executive officer now directly owns 519,116 shares of the company’s stock, valued at approximately $14,877,864.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,737,255 shares of company stock valued at $599,392,939. Company insiders own 1.67% of the company’s stock.
Shoals Technologies Group Trading Down 0.5 %
Shoals Technologies Group stock opened at $21.96 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.53 and a current ratio of 2.92. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 26.46 and a beta of 2.11. Shoals Technologies Group, Inc. has a 1 year low of $9.58 and a 1 year high of $32.43. The firm’s 50 day moving average price is $23.10 and its two-hundred day moving average price is $24.31.
Shoals Technologies Group (NASDAQ:SHLS – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. The firm had revenue of $94.65 million for the quarter, compared to analyst estimates of $86.29 million. Shoals Technologies Group had a net margin of 39.03% and a return on equity of 59.78%. On average, research analysts predict that Shoals Technologies Group, Inc. will post 0.51 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equity research analysts have recently weighed in on SHLS shares. Truist Financial lifted their price target on Shoals Technologies Group from $30.00 to $32.00 and gave the company a “buy” rating in a report on Monday, February 27th. The Goldman Sachs Group raised Shoals Technologies Group from a “sell” rating to a “neutral” rating and lifted their price target for the company from $20.00 to $22.00 in a report on Thursday, March 30th. Northland Securities lowered shares of Shoals Technologies Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $30.00 to $27.00 in a research note on Wednesday, March 1st. Cantor Fitzgerald started coverage on shares of Shoals Technologies Group in a research note on Wednesday, January 25th. They set a “neutral” rating and a $30.00 price objective on the stock. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $29.00 price objective on shares of Shoals Technologies Group in a research note on Monday, March 6th. Seven equity research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.97.
Shoals Technologies Group Profile
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Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It produces EBOS components, including cable assemblies, inline fuses, combiners, disconnects, recombiners, wireless monitoring systems, junction boxes, transition enclosures, splice boxes, wire management solutions, and IV curve benchmarking devices.
See Also
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