WINTON GROUP Ltd Buys Shares of 12,597 Shoals Technologies Group, Inc. (NASDAQ:SHLS)

WINTON GROUP Ltd purchased a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLSGet Rating) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 12,597 shares of the company’s stock, valued at approximately $208,000.

Several other hedge funds also recently modified their holdings of the company. Los Angeles Capital Management LLC boosted its position in shares of Shoals Technologies Group by 4.6% in the second quarter. Los Angeles Capital Management LLC now owns 14,702 shares of the company’s stock worth $242,000 after acquiring an additional 652 shares during the last quarter. abrdn plc raised its holdings in Shoals Technologies Group by 12.9% in the second quarter. abrdn plc now owns 469,255 shares of the company’s stock valued at $7,717,000 after acquiring an additional 53,598 shares in the last quarter. Nikko Asset Management Americas Inc. raised its stake in shares of Shoals Technologies Group by 2.6% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 64,843 shares of the company’s stock valued at $1,044,000 after purchasing an additional 1,641 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Shoals Technologies Group by 34.3% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 48,958 shares of the company’s stock worth $807,000 after buying an additional 12,502 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its stake in Shoals Technologies Group by 37.2% during the second quarter. Kornitzer Capital Management Inc. KS now owns 1,166,805 shares of the company’s stock worth $19,229,000 after purchasing an additional 316,247 shares during the last quarter. 63.34% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Shoals Technologies Group

In other news, General Counsel Mehgan Peetz sold 2,034 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $24.87, for a total transaction of $50,585.58. Following the transaction, the general counsel now directly owns 90,395 shares in the company, valued at $2,248,123.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Mehgan Peetz sold 2,034 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $24.87, for a total transaction of $50,585.58. Following the transaction, the general counsel now directly owns 90,395 shares in the company, valued at $2,248,123.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason R. Whitaker sold 65,675 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $29.91, for a total transaction of $1,964,339.25. Following the sale, the chief executive officer now directly owns 602,639 shares of the company’s stock, valued at $18,024,932.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,042 shares of company stock worth $2,225,083. Corporate insiders own 1.67% of the company’s stock.

Shoals Technologies Group Price Performance

Shares of SHLS stock opened at $30.52 on Tuesday. Shoals Technologies Group, Inc. has a 1 year low of $9.58 and a 1 year high of $34.29. The firm’s 50 day moving average is $22.61 and its 200-day moving average is $20.52. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 339.37 and a beta of 2.01. The company has a current ratio of 2.60, a quick ratio of 1.45 and a debt-to-equity ratio of 12.13.

Wall Street Analysts Forecast Growth

SHLS has been the topic of several recent research reports. The Goldman Sachs Group raised their price target on Shoals Technologies Group from $18.00 to $20.00 and gave the stock a “sell” rating in a report on Tuesday, November 15th. Guggenheim lowered shares of Shoals Technologies Group from a “buy” rating to a “neutral” rating in a research note on Friday, September 9th. They noted that the move was a valuation call. Cowen upgraded shares of Shoals Technologies Group from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $29.00 to $37.50 in a research report on Friday, September 16th. Barclays lifted their price target on shares of Shoals Technologies Group from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 16th. Finally, Credit Suisse Group decreased their price objective on shares of Shoals Technologies Group from $25.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.93.

About Shoals Technologies Group

(Get Rating)

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It produces EBOS components, including cable assemblies, inline fuses, combiners, disconnects, recombiners, wireless monitoring systems, junction boxes, transition enclosures, splice boxes, wire management solutions, and IV curve benchmarking devices.

Further Reading

Institutional Ownership by Quarter for Shoals Technologies Group (NASDAQ:SHLS)

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