Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Acquired by Fox Run Management L.L.C.

Fox Run Management L.L.C. lifted its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 82.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,784 shares of the company’s stock after buying an additional 20,215 shares during the quarter. Fox Run Management L.L.C.’s holdings in Shoals Technologies Group were worth $248,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. boosted its position in Shoals Technologies Group by 460.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 6,844,222 shares of the company’s stock worth $38,396,000 after purchasing an additional 5,622,207 shares in the last quarter. Erste Asset Management GmbH purchased a new stake in Shoals Technologies Group during the third quarter worth $20,191,000. Verition Fund Management LLC boosted its holdings in Shoals Technologies Group by 938.3% during the third quarter. Verition Fund Management LLC now owns 2,251,093 shares of the company’s stock worth $12,629,000 after buying an additional 2,034,291 shares in the last quarter. Impax Asset Management Group plc grew its position in Shoals Technologies Group by 126.3% during the fourth quarter. Impax Asset Management Group plc now owns 3,469,360 shares of the company’s stock valued at $19,083,000 after buying an additional 1,935,983 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Shoals Technologies Group by 14.6% in the third quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company’s stock valued at $73,533,000 after buying an additional 1,666,691 shares in the last quarter.

Insider Buying and Selling at Shoals Technologies Group

In related news, CEO Brandon Moss sold 21,700 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 1,051,303 shares of the company’s stock, valued at approximately $3,227,500.21. This trade represents a 2.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 40,575 shares of company stock worth $123,957 over the last quarter. 0.36% of the stock is currently owned by company insiders.

Shoals Technologies Group Stock Performance

Shares of Shoals Technologies Group stock opened at $3.42 on Friday. The business’s 50 day moving average price is $3.89 and its 200 day moving average price is $4.84. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. The company has a market cap of $571.12 million, a price-to-earnings ratio of 17.10, a PEG ratio of 0.52 and a beta of 1.69. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $11.85.

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price objective on Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Barclays reduced their target price on Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. 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. Finally, Roth Mkm reduced their price objective on shares of Shoals Technologies Group from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $8.87.

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.