Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 10.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 422,854 shares of the company’s stock after selling 51,982 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Shoals Technologies Group were worth $2,338,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board boosted its holdings in Shoals Technologies Group by 92.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 100,300 shares of the company’s stock worth $626,000 after acquiring an additional 48,200 shares during the period. Ensign Peak Advisors Inc lifted its stake in shares of Shoals Technologies Group by 42.4% in the second quarter. Ensign Peak Advisors Inc now owns 82,623 shares of the company’s stock worth $516,000 after acquiring an additional 24,600 shares in the last quarter. Point72 DIFC Ltd raised its position in shares of Shoals Technologies Group by 12.8% in the 2nd quarter. Point72 DIFC Ltd now owns 54,650 shares of the company’s stock valued at $341,000 after purchasing an additional 6,206 shares in the last quarter. AQR Capital Management LLC raised its holdings in Shoals Technologies Group by 505.8% in the second quarter. AQR Capital Management LLC now owns 1,020,428 shares of the company’s stock valued at $6,367,000 after acquiring an additional 851,978 shares in the last quarter. Finally, Decade Renewable Partners LP grew its holdings in Shoals Technologies Group by 7.8% during the 2nd quarter. Decade Renewable Partners LP now owns 646,997 shares of the company’s stock worth $4,037,000 after acquiring an additional 46,990 shares in the last quarter.

Shoals Technologies Group Trading Down 7.1 %

NASDAQ:SHLS opened at $4.29 on Thursday. The stock has a market cap of $715.14 million, a price-to-earnings ratio of 21.45, a PEG ratio of 0.54 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. Shoals Technologies Group, Inc. has a 1 year low of $4.07 and a 1 year high of $17.50. The business has a fifty day moving average of $5.06 and a 200-day moving average of $5.50.

Shoals Technologies Group (NASDAQ:SHLS) last announced its earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company had revenue of $102.20 million during the quarter, compared to the consensus estimate of $98.86 million. During the same quarter in the prior year, the company earned $0.16 EPS. The business’s quarterly revenue was down 23.8% on a year-over-year basis. Equities analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Insider Activity at Shoals Technologies Group

In other news, CEO Brandon Moss bought 22,300 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was acquired at an average price of $4.55 per share, with a total value of $101,465.00. Following the completion of the purchase, the chief executive officer now directly owns 593,700 shares of the company’s stock, valued at $2,701,335. This represents a 3.90 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 6,460 shares of company stock worth $30,271 over the last quarter. 1.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on SHLS shares. TD Cowen increased their price target on shares of Shoals Technologies Group from $9.50 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Wells Fargo & Company started coverage on Shoals Technologies Group in a research note on Monday, October 14th. They set an “equal weight” rating and a $46.00 price objective on the stock. Truist Financial decreased their target price on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Barclays reduced their price objective on Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Bank of America assumed coverage on shares of Shoals Technologies Group in a research note on Monday, November 25th. They set a “buy” rating and a $6.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $10.03.

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.