Vontobel Holding Ltd. Increases Stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Vontobel Holding Ltd. grew its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 9.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 45,249 shares of the company’s stock after buying an additional 3,907 shares during the period. Vontobel Holding Ltd.’s holdings in Shoals Technologies Group were worth $703,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SHLS. BlackRock Inc. raised its holdings in Shoals Technologies Group by 23.6% in the 1st quarter. BlackRock Inc. now owns 16,288,180 shares of the company’s stock worth $371,208,000 after acquiring an additional 3,112,106 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Shoals Technologies Group by 38.0% during the third quarter. Wellington Management Group LLP now owns 10,045,443 shares of the company’s stock valued at $183,329,000 after purchasing an additional 2,764,566 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Shoals Technologies Group by 2.6% during the third quarter. Clearbridge Investments LLC now owns 8,743,607 shares of the company’s stock valued at $159,571,000 after buying an additional 222,249 shares during the last quarter. Invesco Ltd. increased its holdings in Shoals Technologies Group by 0.8% in the 1st quarter. Invesco Ltd. now owns 7,063,711 shares of the company’s stock worth $120,365,000 after buying an additional 55,184 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Shoals Technologies Group by 28.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,368,077 shares of the company’s stock worth $116,217,000 after buying an additional 1,402,419 shares during the last quarter.

Wall Street Analysts Forecast Growth

SHLS has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $24.00 target price on shares of Shoals Technologies Group in a research report on Wednesday, March 13th. Oppenheimer decreased their target price on shares of Shoals Technologies Group from $42.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, February 29th. Barclays dropped their price target on Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 5th. Finally, Janney Montgomery Scott assumed coverage on Shoals Technologies Group in a report on Friday, January 19th. They issued a “buy” rating and a $20.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, Shoals Technologies Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.94.

Shoals Technologies Group Stock Up 1.0 %

Shares of SHLS stock opened at $8.29 on Monday. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 33.16 and a beta of 1.79. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.45 and a quick ratio of 1.88. The company’s fifty day moving average price is $12.38 and its 200-day moving average price is $13.91. Shoals Technologies Group, Inc. has a one year low of $8.06 and a one year high of $28.34.

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

Shoals Technologies Group 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.