Artisan Partners Limited Partnership Has $30.33 Million Stock Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Artisan Partners Limited Partnership cut its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLSFree Report) by 3.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,661,754 shares of the company’s stock after selling 65,260 shares during the period. Artisan Partners Limited Partnership owned about 0.98% of Shoals Technologies Group worth $30,327,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc raised its holdings in shares of Shoals Technologies Group by 73.5% in the 2nd quarter. IFP Advisors Inc now owns 1,223 shares of the company’s stock worth $38,000 after buying an additional 518 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Shoals Technologies Group by 92.7% in the 3rd quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock worth $29,000 after buying an additional 765 shares in the last quarter. Toroso Investments LLC acquired a new position in shares of Shoals Technologies Group in the 3rd quarter worth approximately $44,000. MetLife Investment Management LLC acquired a new position in shares of Shoals Technologies Group in the 1st quarter worth approximately $36,000. Finally, Headlands Technologies LLC acquired a new position in shares of Shoals Technologies Group in the 2nd quarter worth approximately $57,000.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SHLS. Citigroup cut their target price on shares of Shoals Technologies Group from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. Mizuho lifted their target price on shares of Shoals Technologies Group from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Truist Financial cut their target price on shares of Shoals Technologies Group from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. Janney Montgomery Scott started coverage on shares of Shoals Technologies Group in a research note on Friday, January 19th. They issued a “buy” rating and a $20.00 target price for the company. Finally, BNP Paribas started coverage on shares of Shoals Technologies Group in a research note on Friday, October 20th. They issued an “outperform” rating and a $33.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.87.

Read Our Latest Report on Shoals Technologies Group

Shoals Technologies Group Stock Performance

Shares of NASDAQ:SHLS opened at $16.50 on Friday. The business has a 50-day moving average price of $14.46 and a two-hundred day moving average price of $17.02. The stock has a market capitalization of $2.81 billion, a P/E ratio of 19.41 and a beta of 1.87. The company has a current ratio of 2.54, a quick ratio of 1.82 and a debt-to-equity ratio of 0.36. Shoals Technologies Group, Inc. has a 1-year low of $12.11 and a 1-year high of $28.34.

Shoals Technologies Group (NASDAQ:SHLSGet Free Report) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.02. The business had revenue of $134.21 million during the quarter, compared to the consensus estimate of $136.65 million. Shoals Technologies Group had a return on equity of 19.03% and a net margin of 30.01%. Equities analysts predict that Shoals Technologies Group, Inc. will post 0.56 earnings per share for the current year.

About Shoals Technologies Group

(Free Report)

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle charging applications 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, and wire management solutions.

Featured Articles

Want to see what other hedge funds are holding SHLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shoals Technologies Group, Inc. (NASDAQ:SHLSFree Report).

Institutional Ownership by Quarter for Shoals Technologies Group (NASDAQ:SHLS)

Receive News & Ratings for Shoals Technologies Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shoals Technologies Group and related companies with MarketBeat.com's FREE daily email newsletter.