Roubaix Capital LLC Invests $2.16 Million in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Roubaix Capital LLC purchased a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 384,306 shares of the company’s stock, valued at approximately $2,156,000.

Several other institutional investors have also recently modified their holdings of SHLS. ANTIPODES PARTNERS Ltd boosted its stake in Shoals Technologies Group by 122.4% in the first quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock worth $54,000 after buying an additional 2,638 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Shoals Technologies Group in the 2nd quarter valued at $54,000. Mackenzie Financial Corp bought a new position in shares of Shoals Technologies Group during the 2nd quarter valued at $64,000. American Trust bought a new stake in Shoals Technologies Group in the second quarter worth $68,000. Finally, Versor Investments LP purchased a new stake in Shoals Technologies Group during the second quarter valued at about $80,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SHLS. Truist Financial lowered their target price on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Roth Mkm cut their target price on shares of Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. lowered their price target on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $11.00 target price on shares of Shoals Technologies Group in a research note on Friday, September 6th. Finally, BNP Paribas lowered Shoals Technologies Group from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $15.00 to $7.00 in a research report on Wednesday, August 7th. 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 company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $12.55.

Shoals Technologies Group Stock Up 0.6 %

Shares of NASDAQ:SHLS opened at $5.27 on Thursday. Shoals Technologies Group, Inc. has a 12-month low of $4.85 and a 12-month high of $17.50. The stock has a market capitalization of $878.22 million, a price-to-earnings ratio of 37.64, a PEG ratio of 0.74 and a beta of 1.74. The stock has a fifty day simple moving average of $5.55 and a two-hundred day simple moving average of $6.44. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.27.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The company had revenue of $99.25 million for the quarter, compared to analysts’ expectations of $90.57 million. Shoals Technologies Group had a net margin of 5.13% and a return on equity of 12.75%. Shoals Technologies Group’s revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 EPS. On average, research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

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.