Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Acquired by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. raised its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 41.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,524 shares of the company’s stock after purchasing an additional 8,021 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Shoals Technologies Group were worth $428,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Assetmark Inc. grew its holdings in Shoals Technologies Group by 92.7% during the third quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock worth $29,000 after acquiring an additional 765 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in shares of Shoals Technologies Group during the 4th quarter valued at about $33,000. Exchange Traded Concepts LLC acquired a new position in shares of Shoals Technologies Group in the 3rd quarter worth approximately $48,000. Headlands Technologies LLC raised its holdings in shares of Shoals Technologies Group by 101.4% in the 3rd quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock worth $81,000 after purchasing an additional 2,245 shares in the last quarter. Finally, Trium Capital LLP acquired a new stake in Shoals Technologies Group during the third quarter valued at approximately $93,000.

Shoals Technologies Group Price Performance

Shares of NASDAQ:SHLS opened at $8.45 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.45 and a quick ratio of 1.88. The stock has a market capitalization of $1.44 billion, a P/E ratio of 33.80 and a beta of 1.79. The business has a 50-day moving average of $11.28 and a two-hundred day moving average of $13.53. Shoals Technologies Group, Inc. has a fifty-two week low of $8.06 and a fifty-two week high of $28.34.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Wednesday, February 28th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.04). Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. The company had revenue of $130.44 million during the quarter, compared to analyst estimates of $131.89 million. On average, equities research analysts predict that Shoals Technologies Group, Inc. will post 0.51 EPS for the current fiscal year.

Analyst Ratings Changes

SHLS has been the subject of several research reports. Piper Sandler reduced their price objective on Shoals Technologies Group from $16.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, April 11th. The Goldman Sachs Group decreased their price target on Shoals Technologies Group from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, March 1st. Truist Financial restated a “buy” rating and set a $20.00 price objective (down previously from $23.00) on shares of Shoals Technologies Group in a report on Thursday, February 29th. Barclays decreased their target price on shares of Shoals Technologies Group from $15.00 to $13.00 and set an “equal weight” rating for the company in a report on Tuesday, March 5th. Finally, TD Cowen cut their price target on shares of Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Shoals Technologies Group presently has an average rating of “Moderate Buy” and an average target price of $20.94.

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.