BI Asset Management Fondsmaeglerselskab A S Invests $570,000 in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 103,015 shares of the company’s stock, valued at approximately $570,000. BI Asset Management Fondsmaeglerselskab A S owned 0.06% of Shoals Technologies Group as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. FMR LLC grew its stake in Shoals Technologies Group by 48.9% in the third quarter. FMR LLC now owns 5,806 shares of the company’s stock valued at $33,000 after acquiring an additional 1,906 shares during the period. Empirical Asset Management LLC bought a new position in shares of Shoals Technologies Group during the 4th quarter valued at about $59,000. Cibc World Markets Corp acquired a new position in shares of Shoals Technologies Group in the 4th quarter valued at approximately $87,000. Versor Investments LP acquired a new position in shares of Shoals Technologies Group in the 4th quarter valued at approximately $91,000. Finally, Stratos Wealth Partners LTD. bought a new stake in Shoals Technologies Group during the 4th quarter worth approximately $110,000.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $3.30 on Thursday. The company has a market cap of $550.25 million, a PE ratio of 16.48, a price-to-earnings-growth ratio of 0.52 and a beta of 1.54. The firm has a 50-day moving average of $3.41 and a 200-day moving average of $4.46. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $9.17. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings results on Wednesday, February 26th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The business had revenue of $107.00 million for the quarter, compared to the consensus estimate of $102.16 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.12 EPS. As a group, equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wolfe Research started coverage on shares of Shoals Technologies Group in a research note on Tuesday, February 18th. They issued a “peer perform” rating on the stock. Oppenheimer cut their price objective on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Piper Sandler lowered their target price on Shoals Technologies Group from $8.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price target on Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group reduced their price objective on Shoals Technologies Group from $4.60 to $3.40 and set a “hold” rating for the company in a research report on Wednesday, March 12th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $8.87.

Insider Buying and Selling

In related news, CEO Brandon Moss sold 21,700 shares of Shoals Technologies Group stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total transaction of $66,619.00. Following the completion of the sale, the chief executive officer now owns 1,051,303 shares of the company’s stock, valued at approximately $3,227,500.21. The trade was a 2.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 40,575 shares of company stock valued at $123,957. 1.67% of the stock is owned by insiders.

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.