80,200 Shares in Shoals Technologies Group, Inc. $SHLS Bought by WINTON GROUP Ltd

WINTON GROUP Ltd purchased a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the second quarter, Holdings Channel.com reports. The firm purchased 80,200 shares of the company’s stock, valued at approximately $794,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SHLS. Castle Hook Partners LP purchased a new position in shares of Shoals Technologies Group in the fourth quarter valued at about $40,095,000. California State Teachers Retirement System grew its position in shares of Shoals Technologies Group by 863.9% during the second quarter. California State Teachers Retirement System now owns 1,926,857 shares of the company’s stock worth $194,632,000 after purchasing an additional 1,726,954 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Shoals Technologies Group during the 4th quarter valued at approximately $9,819,000. Heartland Advisors Inc. bought a new stake in Shoals Technologies Group during the 1st quarter valued at approximately $6,950,000. Finally, Dimensional Fund Advisors LP lifted its holdings in Shoals Technologies Group by 31.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,268,794 shares of the company’s stock worth $28,083,000 after purchasing an additional 1,016,987 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SHLS shares. Jefferies Financial Group upped their price target on Shoals Technologies Group from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Weiss Ratings raised shares of Shoals Technologies Group from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. Wells Fargo & Company upped their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 11th. Royal Bank Of Canada raised their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Roth Capital reiterated a “buy” rating on shares of Shoals Technologies Group in a report on Thursday, July 2nd. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.71.

Shoals Technologies Group Price Performance

NASDAQ:SHLS opened at $7.05 on Tuesday. The firm has a market capitalization of $1.19 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 0.90 and a beta of 1.89. Shoals Technologies Group, Inc. has a 1 year low of $5.43 and a 1 year high of $13.18. The business has a 50 day simple moving average of $8.48 and a 200-day simple moving average of $8.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.25 and a quick ratio of 1.12.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. Shoals Technologies Group had a return on equity of 10.07% and a net margin of 5.41%.The firm had revenue of $163.37 million for the quarter, compared to the consensus estimate of $160.03 million. During the same quarter in the previous year, the company posted $0.10 EPS. The company’s revenue for the quarter was up 47.4% compared to the same quarter last year. Equities analysts forecast that Shoals Technologies Group, Inc. will post 0.34 EPS for the current year.

Shoals Technologies Group Profile

Shoals Technologies Group, Inc (NASDAQ: SHLS) develops and supplies electrical balance-of-system (EBOS) products for solar energy installations. Its solutions connect, protect, combine and monitor the electrical output of photovoltaic panels, helping solar developers and installers improve system reliability and simplify project construction.

The company’s product portfolio includes wire harnesses, junction boxes, inline fuses, disconnects, recombiners, cable-management systems and other wiring and connectivity solutions.