30,974 Shares in Shoals Technologies Group, Inc. $SHLS Bought by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 30,974 shares of the company’s stock, valued at approximately $132,000.

A number of other hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of Shoals Technologies Group by 51.9% during the 1st quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company’s stock valued at $71,765,000 after acquiring an additional 7,382,548 shares in the last quarter. CenterBook Partners LP bought a new position in Shoals Technologies Group during the first quarter worth about $12,489,000. T. Rowe Price Investment Management Inc. bought a new position in Shoals Technologies Group during the first quarter worth about $7,712,000. Pacer Advisors Inc. acquired a new stake in Shoals Technologies Group during the first quarter valued at approximately $5,350,000. Finally, Nuveen LLC bought a new stake in shares of Shoals Technologies Group in the 1st quarter valued at approximately $3,589,000.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Roth Capital upgraded Shoals Technologies Group from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Thursday, August 7th. Mizuho cut Shoals Technologies Group from an “outperform” rating to a “neutral” rating and set a $7.00 price objective for the company. in a report on Monday, July 14th. JPMorgan Chase & Co. boosted their target price on shares of Shoals Technologies Group from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Needham & Company LLC started coverage on shares of Shoals Technologies Group in a research report on Wednesday, October 22nd. They set a “buy” rating and a $12.00 target price for the company. Finally, Zacks Research raised shares of Shoals Technologies Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $8.00.

Shoals Technologies Group Trading Down 10.6%

SHLS opened at $9.24 on Wednesday. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $11.36. The stock has a market capitalization of $1.55 billion, a PE ratio of 71.08, a PEG ratio of 1.24 and a beta of 1.69. The company has a current ratio of 2.34, a quick ratio of 1.64 and a debt-to-equity ratio of 0.23. The firm has a 50-day moving average price of $8.41 and a two-hundred day moving average price of $6.24.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. The business had revenue of $110.84 million for the quarter, compared to analysts’ expectations of $104.87 million. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. Shoals Technologies Group’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 earnings per share. As a group, equities 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.