Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Sold by Sycomore Asset Management

Sycomore Asset Management cut its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 4.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 114,472 shares of the company’s stock after selling 5,799 shares during the quarter. Sycomore Asset Management owned 0.07% of Shoals Technologies Group worth $1,801,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Assetmark Inc. increased its position in shares of Shoals Technologies Group by 92.7% during the 3rd quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock valued at $29,000 after purchasing an additional 765 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in shares of Shoals Technologies Group during the 4th quarter worth $33,000. Exchange Traded Concepts LLC bought a new stake in shares of Shoals Technologies Group during the 3rd quarter worth $48,000. Headlands Technologies LLC boosted its stake in shares of Shoals Technologies Group by 101.4% during the 3rd quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock worth $81,000 after acquiring an additional 2,245 shares in the last quarter. Finally, Trium Capital LLP bought a new stake in shares of Shoals Technologies Group during the 3rd quarter worth $93,000.

Shoals Technologies Group Stock Up 0.4 %

Shares of NASDAQ:SHLS traded up $0.03 during midday trading on Wednesday, hitting $8.49. 2,835,165 shares of the stock were exchanged, compared to its average volume of 3,870,743. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.88 and a current ratio of 2.45. Shoals Technologies Group, Inc. has a 52-week low of $8.06 and a 52-week high of $28.34. The business’s fifty day simple moving average is $11.91 and its two-hundred day simple moving average is $13.77. The company has a market capitalization of $1.45 billion, a PE ratio of 33.96 and a beta of 1.79.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.04). Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. The firm had revenue of $130.44 million for the quarter, compared to analysts’ expectations of $131.89 million. As a group, research analysts predict that Shoals Technologies Group, Inc. will post 0.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SHLS shares. TD Cowen reduced their price objective on Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Barclays reduced their price objective on Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 5th. Mizuho reduced their price objective on Shoals Technologies Group from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Janney Montgomery Scott started coverage on Shoals Technologies Group in a research note on Friday, January 19th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Piper Sandler reduced their price objective on Shoals Technologies Group from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.94.

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.