Zurcher Kantonalbank Zurich Cantonalbank Has $908,000 Stock Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 55.0% in the fourth quarter, HoldingsChannel reports. The fund owned 58,435 shares of the company’s stock after acquiring an additional 20,738 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Shoals Technologies Group were worth $908,000 at the end of the most recent reporting period.

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

Shoals Technologies Group Stock Up 3.1 %

Shares of SHLS opened at $8.52 on Monday. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 34.08 and a beta of 1.79. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.88 and a current ratio of 2.45. The stock has a fifty day moving average of $11.59 and a 200-day moving average of $13.64. Shoals Technologies Group, Inc. has a 52 week low of $8.06 and a 52 week high of $28.34.

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

Analyst Ratings Changes

SHLS has been the subject of several recent research reports. Mizuho dropped their target price on shares of Shoals Technologies Group from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Friday, April 19th. 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 research report on Thursday, February 29th. UBS Group reduced their price objective on shares of Shoals Technologies Group from $28.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, March 1st. Janney Montgomery Scott started coverage on shares of Shoals Technologies Group in a research report on Friday, January 19th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $24.00 price objective on shares of Shoals Technologies Group in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.94.

About Shoals Technologies Group

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.