Mackenzie Financial Corp Grows Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Mackenzie Financial Corp raised its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 104,251 shares of the company’s stock after buying an additional 16,631 shares during the period. Mackenzie Financial Corp’s holdings in Shoals Technologies Group were worth $1,620,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SHLS. Vontobel Holding Ltd. boosted its position in shares of Shoals Technologies Group by 3.6% during the third quarter. Vontobel Holding Ltd. now owns 41,342 shares of the company’s stock worth $754,000 after buying an additional 1,430 shares during the period. SG Americas Securities LLC boosted its position in shares of Shoals Technologies Group by 28.3% during the third quarter. SG Americas Securities LLC now owns 38,573 shares of the company’s stock worth $704,000 after buying an additional 8,511 shares during the period. Exchange Traded Concepts LLC purchased a new position in shares of Shoals Technologies Group during the third quarter worth $48,000. Asset Management One Co. Ltd. purchased a new position in shares of Shoals Technologies Group during the third quarter worth $1,425,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Shoals Technologies Group by 2,692.6% during the third quarter. Handelsbanken Fonder AB now owns 628,332 shares of the company’s stock worth $11,467,000 after buying an additional 605,832 shares during the period.

Shoals Technologies Group Stock Up 0.4 %

Shoals Technologies Group stock opened at $8.46 on Wednesday. Shoals Technologies Group, Inc. has a 1-year low of $8.06 and a 1-year high of $28.34. 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 cap of $1.44 billion, a PE ratio of 33.84 and a beta of 1.79. The stock’s fifty day moving average is $12.06 and its two-hundred day moving average is $13.81.

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

Wall Street Analysts Forecast Growth

SHLS has been the subject of several research analyst reports. Oppenheimer lowered their price target on Shoals Technologies Group from $42.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, February 29th. Janney Montgomery Scott assumed coverage on Shoals Technologies Group in a report on Friday, January 19th. They issued a “buy” rating and a $20.00 target price for the company. JPMorgan Chase & Co. decreased their target price on Shoals Technologies Group from $32.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. TD Cowen decreased their target price on Shoals Technologies Group from $30.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 target price on shares of Shoals Technologies Group in a report on Wednesday, March 13th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.94.

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.