Green Alpha Advisors LLC Boosts Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Green Alpha Advisors LLC raised its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 43.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 40,636 shares of the company’s stock after purchasing an additional 12,324 shares during the period. Green Alpha Advisors LLC’s holdings in Shoals Technologies Group were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. William Blair Investment Management LLC lifted its stake in shares of Shoals Technologies Group by 71.6% during the 1st quarter. William Blair Investment Management LLC now owns 10,221,644 shares of the company’s stock valued at $114,278,000 after buying an additional 4,263,964 shares in the last quarter. Joho Capital LLC boosted its holdings in shares of Shoals Technologies Group by 111.6% in the first quarter. Joho Capital LLC now owns 6,423,545 shares of the company’s stock worth $71,815,000 after acquiring an additional 3,387,539 shares during the period. Wellington Management Group LLP boosted its stake in Shoals Technologies Group by 28.5% in the 4th quarter. Wellington Management Group LLP now owns 12,910,322 shares of the company’s stock worth $200,626,000 after purchasing an additional 2,864,879 shares during the period. Millennium Management LLC grew its stake in Shoals Technologies Group by 262.8% during the second quarter. Millennium Management LLC now owns 3,371,593 shares of the company’s stock valued at $21,039,000 after acquiring an additional 2,442,227 shares in the last quarter. Finally, Swedbank AB bought a new position in Shoals Technologies Group in the 1st quarter valued at $25,268,000.

Shoals Technologies Group Trading Down 0.6 %

NASDAQ:SHLS opened at $5.10 on Tuesday. The firm has a market capitalization of $869.14 million, a P/E ratio of 28.33, a P/E/G ratio of 0.74 and a beta of 1.74. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $5.71 and a 200 day moving average of $7.14. Shoals Technologies Group, Inc. has a 52 week low of $4.88 and a 52 week high of $18.46.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.13% and a return on equity of 12.75%. The firm had revenue of $99.25 million during the quarter, compared to the consensus estimate of $90.57 million. During the same period in the prior year, the firm posted $0.12 earnings per share. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. On average, research analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $11.00 price objective on shares of Shoals Technologies Group in a research report on Friday, September 6th. Citigroup upgraded Shoals Technologies Group from a “sell” rating to a “neutral” rating and lifted their price target for the company from $5.00 to $5.50 in a research report on Thursday, October 3rd. Northland Securities lowered their target price on shares of Shoals Technologies Group from $6.00 to $4.00 and set an “underperform” rating on the stock in a research note on Thursday, August 8th. Piper Sandler lifted their target price on shares of Shoals Technologies Group from $8.00 to $10.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. Finally, Roth Mkm decreased their price target on shares of Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Shoals Technologies Group has an average rating of “Hold” and an average target price of $11.08.

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.