Principal Financial Group Inc. Acquires 1,898 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Principal Financial Group Inc. grew its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLSFree Report) by 10.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,839 shares of the company’s stock after acquiring an additional 1,898 shares during the period. Principal Financial Group Inc.’s holdings in Shoals Technologies Group were worth $308,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. ANTIPODES PARTNERS Ltd bought a new position in shares of Shoals Technologies Group during the fourth quarter valued at $33,000. Headlands Technologies LLC increased its position in shares of Shoals Technologies Group by 101.4% during the third 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. iA Global Asset Management Inc. acquired a new stake in shares of Shoals Technologies Group during the third quarter worth $102,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Shoals Technologies Group during the third quarter worth $109,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Shoals Technologies Group by 49.8% during the third quarter. PNC Financial Services Group Inc. now owns 10,204 shares of the company’s stock worth $186,000 after buying an additional 3,394 shares during the period.

Shoals Technologies Group Stock Up 0.4 %

Shoals Technologies Group stock opened at $7.19 on Wednesday. Shoals Technologies Group, Inc. has a fifty-two week low of $6.28 and a fifty-two week high of $28.34. The stock has a market cap of $1.23 billion, a PE ratio of 39.94 and a beta of 1.82. The firm’s 50-day simple moving average is $8.62 and its 200 day simple moving average is $12.22. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.87 and a current ratio of 2.62.

Shoals Technologies Group (NASDAQ:SHLSGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. Shoals Technologies Group had a net margin of 6.42% and a return on equity of 13.95%. The business had revenue of $90.81 million for the quarter, compared to analysts’ expectations of $94.44 million. Research analysts predict that Shoals Technologies Group, Inc. will post 0.44 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on SHLS shares. Oppenheimer reduced their price target on shares of Shoals Technologies Group from $42.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Truist Financial restated a “buy” rating and issued a $20.00 price target (down from $23.00) on shares of Shoals Technologies Group in a report on Thursday, February 29th. Northland Securities restated an “underperform” rating and issued a $6.00 price target (down from $12.00) on shares of Shoals Technologies Group in a report on Wednesday, May 8th. Royal Bank of Canada reduced their price target on shares of Shoals Technologies Group from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Finally, Piper Sandler reduced their price target on shares of Shoals Technologies Group from $14.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Shoals Technologies Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.29.

Get Our Latest Research Report on Shoals Technologies Group

Shoals Technologies Group Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding SHLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Shoals Technologies Group, Inc. (NASDAQ:SHLSFree Report).

Institutional Ownership by Quarter for Shoals Technologies Group (NASDAQ:SHLS)

Receive News & Ratings for Shoals Technologies Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shoals Technologies Group and related companies with MarketBeat.com's FREE daily email newsletter.