Royce & Associates LP Invests $940,000 in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Royce & Associates LP acquired a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the fourth quarter, HoldingsChannel reports. The firm acquired 170,000 shares of the company’s stock, valued at approximately $940,000.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Shoals Technologies Group by 48.9% in the third quarter. FMR LLC now owns 5,806 shares of the company’s stock worth $33,000 after buying an additional 1,906 shares during the period. Janus Henderson Group PLC increased its stake in shares of Shoals Technologies Group by 2.3% in the third quarter. Janus Henderson Group PLC now owns 294,598 shares of the company’s stock worth $1,653,000 after buying an additional 6,503 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Shoals Technologies Group by 1.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 551,055 shares of the company’s stock worth $3,091,000 after buying an additional 8,918 shares during the period. Empirical Asset Management LLC purchased a new position in shares of Shoals Technologies Group in the fourth quarter worth $59,000. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of Shoals Technologies Group by 10.5% in the third quarter. Dynamic Technology Lab Private Ltd now owns 120,670 shares of the company’s stock worth $677,000 after buying an additional 11,441 shares during the period.

Shoals Technologies Group Stock Performance

Shares of Shoals Technologies Group stock opened at $3.31 on Friday. The stock has a market cap of $552.75 million, a price-to-earnings ratio of 16.55, a PEG ratio of 0.52 and a beta of 1.69. The firm’s 50-day moving average is $4.03 and its 200 day moving average is $4.91. Shoals Technologies Group, Inc. has a 1 year low of $2.71 and a 1 year high of $12.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $107.00 million during the quarter, compared to the consensus estimate of $102.16 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.12 EPS. Sell-side analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SHLS shares. Truist Financial decreased their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Bank of America started coverage on shares of Shoals Technologies Group in a research report on Monday, November 25th. They set a “buy” rating and a $6.00 price objective on the stock. Piper Sandler reduced their price objective on shares of Shoals Technologies Group from $8.00 to $6.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. UBS Group reduced their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, Wolfe Research started coverage on shares of Shoals Technologies Group in a research report on Tuesday, February 18th. They set a “peer perform” rating on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Shoals Technologies Group presently has a consensus rating of “Hold” and a consensus target price of $8.87.

Insider Buying and Selling

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total transaction of $66,619.00. Following the transaction, the chief executive officer now owns 1,051,303 shares in the company, valued at approximately $3,227,500.21. This represents a 2.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 40,575 shares of company stock worth $123,957 in the last quarter. Corporate insiders own 1.67% of the company’s stock.

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.