Corbyn Investment Management Inc. MD Buys 10,975 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Corbyn Investment Management Inc. MD lifted its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 7.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,778 shares of the company’s stock after buying an additional 10,975 shares during the quarter. Corbyn Investment Management Inc. MD’s holdings in Shoals Technologies Group were worth $874,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SHLS. Price T Rowe Associates Inc. MD grew its holdings in shares of Shoals Technologies Group by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 184,913 shares of the company’s stock worth $2,068,000 after acquiring an additional 1,857 shares during the period. ProShare Advisors LLC raised its position in Shoals Technologies Group by 6.3% in the 1st quarter. ProShare Advisors LLC now owns 41,051 shares of the company’s stock worth $459,000 after buying an additional 2,427 shares during the last quarter. Van ECK Associates Corp raised 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 purchasing an additional 2,517 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Shoals Technologies Group by 3.8% in the second 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. Finally, Point72 DIFC Ltd lifted its stake in shares of Shoals Technologies Group by 12.8% in the 2nd quarter. Point72 DIFC Ltd now owns 54,650 shares of the company’s stock worth $341,000 after purchasing an additional 6,206 shares during the period.

Shoals Technologies Group Price Performance

Shares of SHLS stock opened at $4.56 on Monday. The company has a market capitalization of $759.92 million, a P/E ratio of 22.80, a P/E/G ratio of 0.67 and a beta of 1.73. The company’s 50-day simple moving average is $5.54 and its two-hundred day simple moving average is $6.18. Shoals Technologies Group, Inc. has a one year low of $4.53 and a one year high of $17.50. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.50.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). The firm had revenue of $102.20 million for the quarter, compared to analysts’ expectations of $98.86 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 23.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.16 earnings per share. As a group, equities analysts anticipate that Shoals Technologies Group, Inc. will post 0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

SHLS has been the subject of several recent research reports. Truist Financial cut their target price on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. reduced their price objective 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. BNP Paribas cut Shoals Technologies Group from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $7.00 in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $11.00 price objective on shares of Shoals Technologies Group in a research note on Friday, September 6th. Finally, Barclays cut their price target on Shoals Technologies Group from $7.00 to $5.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Shoals Technologies Group presently has a consensus rating of “Hold” and an average price target of $11.92.

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.