Charles Schwab Investment Management Inc. Grows Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Charles Schwab Investment Management Inc. increased its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,365,057 shares of the company’s stock after purchasing an additional 20,727 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.80% of Shoals Technologies Group worth $21,213,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SHLS. Victory Capital Management Inc. boosted its stake in shares of Shoals Technologies Group by 47.6% in the 3rd quarter. Victory Capital Management Inc. now owns 1,436,774 shares of the company’s stock worth $26,221,000 after buying an additional 463,600 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Shoals Technologies Group by 27.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 17,169 shares of the company’s stock valued at $313,000 after purchasing an additional 3,742 shares during the period. Trium Capital LLP purchased a new stake in shares of Shoals Technologies Group during the 3rd quarter valued at about $93,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Shoals Technologies Group by 4.3% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,158 shares of the company’s stock worth $496,000 after purchasing an additional 1,121 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of Shoals Technologies Group by 1.4% in the 3rd quarter. Arizona State Retirement System now owns 48,353 shares of the company’s stock worth $882,000 after purchasing an additional 689 shares during the period.

Analyst Ratings Changes

Several research firms have weighed in on SHLS. Mizuho decreased their price target on shares of Shoals Technologies Group from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, May 8th. Northland Securities reaffirmed an “underperform” rating and issued a $6.00 target price (down from $12.00) on shares of Shoals Technologies Group in a report on Wednesday, May 8th. JPMorgan Chase & Co. cut their price target on Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. UBS Group lowered their price objective on Shoals Technologies Group from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, March 1st. Finally, The Goldman Sachs Group reduced their target price on shares of Shoals Technologies Group from $26.00 to $23.00 and set a “buy” rating for the company in a report on Friday, March 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.29.

Shoals Technologies Group Stock Performance

Shoals Technologies Group stock opened at $8.05 on Friday. The company’s 50-day moving average price is $9.19 and its 200-day moving average price is $12.56. The company has a quick ratio of 1.87, a current ratio of 2.62 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.37 billion, a PE ratio of 44.72 and a beta of 1.86. Shoals Technologies Group, Inc. has a twelve month low of $6.28 and a twelve month high of $28.34.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). The company had revenue of $130.44 million for the quarter, compared to the consensus estimate of $131.89 million. Shoals Technologies Group had a return on equity of 13.95% and a net margin of 6.42%. On average, equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.44 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.