Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Acquired by UBS Group AG

UBS Group AG grew its position in Shoals Technologies Group, Inc. (NASDAQ:SHLSFree Report) by 65.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 409,055 shares of the company’s stock after purchasing an additional 161,983 shares during the period. UBS Group AG owned approximately 0.24% of Shoals Technologies Group worth $6,357,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP grew its holdings in 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 worth $183,329,000 after acquiring an additional 2,764,566 shares during the period. Norges Bank acquired a new stake in Shoals Technologies Group during the fourth quarter worth about $31,416,000. Handelsbanken Fonder AB grew its holdings in Shoals Technologies Group by 301.5% during the fourth quarter. Handelsbanken Fonder AB now owns 2,522,892 shares of the company’s stock worth $39,206,000 after acquiring an additional 1,894,560 shares during the period. JPMorgan Chase & Co. grew its holdings in Shoals Technologies Group by 28.2% during the third quarter. JPMorgan Chase & Co. now owns 6,368,077 shares of the company’s stock worth $116,217,000 after acquiring an additional 1,402,419 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in Shoals Technologies Group by 25.1% during the third quarter. William Blair Investment Management LLC now owns 5,934,781 shares of the company’s stock worth $108,310,000 after acquiring an additional 1,190,411 shares during the period.

Analyst Upgrades and Downgrades

SHLS has been the topic of several analyst reports. Oppenheimer dropped their target price on Shoals Technologies Group from $42.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. JPMorgan Chase & Co. dropped their price objective on Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Royal Bank of Canada dropped their price objective on Shoals Technologies Group from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Truist Financial reissued a “buy” rating and issued a $20.00 price objective (down from $23.00) on shares of Shoals Technologies Group in a report on Thursday, February 29th. Finally, Piper Sandler dropped their price objective on Shoals Technologies Group from $14.00 to $11.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Shoals Technologies Group currently has an average rating of “Moderate Buy” and a consensus target price of $17.29.

Check Out Our Latest Stock Report on Shoals Technologies Group

Shoals Technologies Group Stock Performance

Shares of Shoals Technologies Group stock opened at $7.02 on Friday. Shoals Technologies Group, Inc. has a one year low of $6.28 and a one year high of $28.34. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 39.00 and a beta of 1.81. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.87 and a current ratio of 2.62. The business’s 50 day moving average price is $8.44 and its 200 day moving average price is $12.15.

Shoals Technologies Group (NASDAQ:SHLSGet Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Shoals Technologies Group had a return on equity of 13.95% and a net margin of 6.42%. The firm had revenue of $90.81 million for the quarter, compared to the consensus estimate of $94.44 million. On average, research analysts predict that Shoals Technologies Group, Inc. will post 0.44 EPS for the current year.

Shoals Technologies Group Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding SHLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shoals Technologies Group, Inc. (NASDAQ:SHLSFree Report).

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

Receive News & Ratings for Shoals Technologies Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shoals Technologies Group and related companies with MarketBeat.com's FREE daily email newsletter.