Swiss National Bank Decreases Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Swiss National Bank lowered its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 2.1% during the 4th quarter, HoldingsChannel reports. The firm owned 327,800 shares of the company’s stock after selling 7,100 shares during the period. Swiss National Bank’s holdings in Shoals Technologies Group were worth $1,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Shoals Technologies Group by 48.9% in the 3rd 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 last quarter. Empirical Asset Management LLC purchased a new position in Shoals Technologies Group in the fourth quarter worth about $59,000. Versor Investments LP bought a new stake in shares of Shoals Technologies Group during the 4th quarter valued at about $91,000. Stratos Wealth Partners LTD. purchased a new stake in shares of Shoals Technologies Group during the 4th quarter valued at about $110,000. Finally, SG Americas Securities LLC purchased a new position in shares of Shoals Technologies Group in the fourth quarter worth approximately $185,000.

Insider Buying and Selling at Shoals Technologies Group

In other news, CEO Brandon Moss sold 21,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total value 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 $3,227,500.21. This trade represents a 2.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 40,575 shares of company stock worth $123,957 over the last 90 days. 0.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SHLS has been the topic of several analyst reports. Barclays dropped their price target on shares of 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. Royal Bank of Canada reduced their price target on Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Mizuho lowered their price objective on Shoals Technologies Group from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their target price on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Finally, Wolfe Research initiated coverage on shares of Shoals Technologies Group in a 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 given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.87.

Shoals Technologies Group Trading Down 3.2 %

Shares of SHLS stock opened at $3.31 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $552.75 million, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 0.52 and a beta of 1.69. Shoals Technologies Group, Inc. has a 12-month low of $2.71 and a 12-month high of $11.60. The stock’s 50-day moving average price is $3.86 and its 200-day moving average price is $4.82.

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