Cibc World Markets Corp Makes New Investment in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Cibc World Markets Corp bought a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 15,698 shares of the company’s stock, valued at approximately $87,000.

Several other large investors have also made changes to their positions in SHLS. FMR LLC lifted its holdings in Shoals Technologies Group by 48.9% during the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock valued at $33,000 after purchasing an additional 1,906 shares during the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Shoals Technologies Group during the fourth quarter worth approximately $59,000. Versor Investments LP bought a new position in shares of Shoals Technologies Group in the fourth quarter valued at approximately $91,000. Stratos Wealth Partners LTD. acquired a new position in shares of Shoals Technologies Group in the 4th quarter worth approximately $110,000. Finally, SG Americas Securities LLC bought a new stake in Shoals Technologies Group during the 4th quarter worth approximately $185,000.

Wall Street Analyst Weigh In

SHLS has been the subject of several research analyst reports. UBS Group cut their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Jefferies Financial Group reduced their price target on shares of Shoals Technologies Group from $4.60 to $3.40 and set a “hold” rating on the stock in a research report on Wednesday, March 12th. Oppenheimer decreased their price objective on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. Royal Bank of Canada reduced their target price on shares of Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group lowered their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $8.87.

Insider Transactions at Shoals Technologies Group

In related news, CEO Brandon Moss sold 21,700 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total transaction of $66,619.00. Following the completion of the sale, the chief executive officer now directly owns 1,051,303 shares of the company’s stock, valued at approximately $3,227,500.21. This represents a 2.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 40,575 shares of company stock valued at $123,957 over the last 90 days. 0.36% of the stock is owned by company insiders.

Shoals Technologies Group Stock Up 0.6 %

Shares of NASDAQ SHLS opened at $3.42 on Friday. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $11.85. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. The stock 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. The firm has a 50 day moving average price of $3.89 and a 200 day moving average price of $4.84.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.08 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 net margin of 7.78% and a return on equity of 9.83%. Shoals Technologies Group’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. Analysts expect that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

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.