UniSuper Management Pty Ltd Has $5.88 Million Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

UniSuper Management Pty Ltd lowered its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,063,306 shares of the company’s stock after selling 134,300 shares during the quarter. UniSuper Management Pty Ltd owned 0.64% of Shoals Technologies Group worth $5,880,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Point72 Asset Management L.P. raised its stake in shares of Shoals Technologies Group by 460.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 6,844,222 shares of the company’s stock worth $38,396,000 after purchasing an additional 5,622,207 shares in the last quarter. Erste Asset Management GmbH acquired a new position in Shoals Technologies Group during the third quarter worth $20,191,000. Verition Fund Management LLC raised its position in Shoals Technologies Group by 938.3% during the third quarter. Verition Fund Management LLC now owns 2,251,093 shares of the company’s stock worth $12,629,000 after acquiring an additional 2,034,291 shares in the last quarter. Impax Asset Management Group plc lifted its stake in Shoals Technologies Group by 126.3% in the fourth quarter. Impax Asset Management Group plc now owns 3,469,360 shares of the company’s stock valued at $19,083,000 after acquiring an additional 1,935,983 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Shoals Technologies Group by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company’s stock valued at $73,533,000 after acquiring an additional 1,666,691 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SHLS. Jefferies Financial Group dropped their target price on shares of Shoals Technologies Group from $4.60 to $3.40 and set a “hold” rating on the stock in a report on Wednesday, March 12th. UBS Group dropped their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Truist Financial reduced their target price on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Roth Mkm dropped their price target on Shoals Technologies Group from $5.00 to $4.50 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Piper Sandler reduced their price objective on shares of Shoals Technologies Group from $8.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Shoals Technologies Group has a consensus rating of “Hold” and a consensus price target of $8.87.

Shoals Technologies Group Stock Up 0.6 %

Shares of SHLS opened at $3.42 on Friday. The firm has a 50 day simple moving average of $3.89 and a two-hundred day simple moving average of $4.84. 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, Inc. has a one year low of $2.71 and a one year high of $11.85. The company has a market cap of $571.12 million, a P/E ratio of 17.10, a P/E/G ratio of 0.52 and a beta of 1.69.

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

Insider Activity

In related news, CEO Brandon Moss sold 21,700 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total value of $66,619.00. Following the completion of the transaction, the chief executive officer now owns 1,051,303 shares of the company’s stock, valued at $3,227,500.21. This represents a 2.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders have sold 40,575 shares of company stock worth $123,957. Corporate insiders own 0.36% of the company’s stock.

Shoals Technologies Group Company 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.