Creative Planning Buys 17,844 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Creative Planning grew its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 115.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 33,288 shares of the company’s stock after purchasing an additional 17,844 shares during the quarter. Creative Planning’s holdings in Shoals Technologies Group were worth $187,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new position in shares of Shoals Technologies Group in the first quarter worth $545,000. Quantbot Technologies LP purchased a new stake in Shoals Technologies Group during the first quarter valued at $217,000. Headlands Technologies LLC purchased a new stake in Shoals Technologies Group in the first quarter worth about $92,000. Qsemble Capital Management LP increased its position in Shoals Technologies Group by 59.7% in the first quarter. Qsemble Capital Management LP now owns 58,113 shares of the company’s stock worth $650,000 after buying an additional 21,729 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Shoals Technologies Group by 6.3% in the first quarter. ProShare Advisors LLC now owns 41,051 shares of the company’s stock worth $459,000 after buying an additional 2,427 shares in the last quarter.

Shoals Technologies Group Trading Up 1.1 %

SHLS opened at $5.77 on Tuesday. 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 market capitalization of $961.55 million, a P/E ratio of 41.21, a PEG ratio of 0.84 and a beta of 1.73. The stock’s fifty day moving average is $5.62 and its two-hundred day moving average is $6.28. Shoals Technologies Group, Inc. has a 52 week low of $4.85 and a 52 week high of $17.50.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SHLS shares. Jefferies Financial Group started coverage on Shoals Technologies Group in a research note on Wednesday, September 4th. They issued a “hold” rating and a $5.00 price objective for the company. Northland Securities dropped their price objective on Shoals Technologies Group from $6.00 to $4.00 and set an “underperform” rating for the company in a research note on Thursday, August 8th. Barclays reaffirmed an “equal weight” rating and issued a $7.00 price objective on shares of Shoals Technologies Group in a research note on Thursday, October 10th. Roth Capital lowered Shoals Technologies Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 7th. Finally, Oppenheimer dropped their price objective on Shoals Technologies Group from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.55.

About Shoals Technologies Group

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.