Impax Asset Management Group plc boosted its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS – Free Report) by 19.4% during the third quarter, HoldingsChannel.com reports. The fund owned 1,533,377 shares of the company’s stock after acquiring an additional 249,582 shares during the period. Impax Asset Management Group plc’s holdings in Shoals Technologies Group were worth $8,602,000 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 the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Shoals Technologies Group by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 184,913 shares of the company’s stock worth $2,068,000 after purchasing an additional 1,857 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Shoals Technologies Group by 6.3% during the first quarter. ProShare Advisors LLC now owns 41,051 shares of the company’s stock valued at $459,000 after acquiring an additional 2,427 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Shoals Technologies Group by 1.9% during the third quarter. Van ECK Associates Corp now owns 131,808 shares of the company’s stock valued at $739,000 after acquiring an additional 2,517 shares during the period. ANTIPODES PARTNERS Ltd grew its position in shares of Shoals Technologies Group by 122.4% during the first quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock worth $54,000 after acquiring an additional 2,638 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Shoals Technologies Group by 3.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,623 shares of the company’s stock worth $637,000 after acquiring an additional 3,699 shares during the period.
Shoals Technologies Group Stock Up 3.0 %
Shares of Shoals Technologies Group stock opened at $6.14 on Wednesday. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.27. Shoals Technologies Group, Inc. has a 12-month low of $4.85 and a 12-month high of $17.50. The firm has a market capitalization of $1.02 billion, a PE ratio of 43.86, a price-to-earnings-growth ratio of 0.80 and a beta of 1.73. The stock’s fifty day moving average is $5.56 and its 200-day moving average is $6.37.
Analysts Set New Price Targets
SHLS has been the subject of several recent analyst reports. Roth Capital cut shares of Shoals Technologies Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 7th. Piper Sandler increased their price objective on Shoals Technologies Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. BNP Paribas downgraded Shoals Technologies Group from an “outperform” rating to a “neutral” rating and cut their target price for the company from $15.00 to $7.00 in a research note on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price target on Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Finally, Citigroup upgraded shares of Shoals Technologies Group from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $5.00 to $5.50 in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.55.
View Our Latest Report on SHLS
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.
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