Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lessened its position in Shoals Technologies Group, Inc. (NASDAQ:SHLSGet Rating) by 76.7% during the third quarter, Holdings Channel reports. The institutional investor owned 3,130,687 shares of the company’s stock after selling 10,295,808 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Shoals Technologies Group were worth $67,467,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of SHLS. Encompass Capital Advisors LLC bought a new stake in shares of Shoals Technologies Group in the 2nd quarter worth $52,245,000. Capital Research Global Investors raised its stake in shares of Shoals Technologies Group by 107.7% in the 1st quarter. Capital Research Global Investors now owns 3,466,612 shares of the company’s stock worth $59,071,000 after buying an additional 1,797,637 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Shoals Technologies Group by 165.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,877,260 shares of the company’s stock worth $47,416,000 after buying an additional 1,791,661 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Shoals Technologies Group by 69.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 4,073,397 shares of the company’s stock worth $67,130,000 after buying an additional 1,670,238 shares in the last quarter. Finally, Park West Asset Management LLC bought a new stake in shares of Shoals Technologies Group in the 2nd quarter worth $18,787,000. Institutional investors own 81.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SHLS. Cantor Fitzgerald initiated coverage on Shoals Technologies Group in a research note on Wednesday, January 25th. They issued a “neutral” rating and a $30.00 price objective on the stock. TheStreet lowered Shoals Technologies Group from a “c-” rating to a “d+” rating in a research report on Thursday, February 9th. Truist Financial boosted their target price on Shoals Technologies Group from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, February 27th. Citigroup initiated coverage on Shoals Technologies Group in a research report on Thursday, March 9th. They set a “buy” rating and a $34.00 target price on the stock. Finally, Oppenheimer boosted their target price on Shoals Technologies Group to $41.00 in a research report on Thursday, November 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Shoals Technologies Group presently has a consensus rating of “Hold” and an average target price of $31.22.

Insider Buying and Selling at Shoals Technologies Group

In other Shoals Technologies Group news, major shareholder Dean Solon sold 24,501,650 shares of the business’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $24.25, for a total value of $594,165,012.50. Following the transaction, the insider now owns 3,675,247 shares in the company, valued at $89,124,739.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder Dean Solon sold 24,501,650 shares of the company’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $24.25, for a total transaction of $594,165,012.50. Following the completion of the sale, the insider now owns 3,675,247 shares in the company, valued at approximately $89,124,739.75. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Jason R. Whitaker sold 12,032 shares of the company’s stock in a transaction dated Tuesday, January 24th. The stock was sold at an average price of $28.66, for a total value of $344,837.12. Following the sale, the chief executive officer now owns 519,116 shares of the company’s stock, valued at approximately $14,877,864.56. The disclosure for this sale can be found here. Insiders have sold 24,558,824 shares of company stock worth $595,709,863 over the last 90 days. 1.67% of the stock is currently owned by corporate insiders.

Shoals Technologies Group Stock Performance

Shares of NASDAQ SHLS opened at $21.06 on Tuesday. The business’s 50-day moving average price is $25.76 and its two-hundred day moving average price is $24.76. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.92 and a quick ratio of 1.53. Shoals Technologies Group, Inc. has a one year low of $9.58 and a one year high of $32.43. The company has a market capitalization of $3.57 billion, a P/E ratio of 25.37 and a beta of 2.17.

About Shoals Technologies Group

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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.

See Also

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

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