Geode Capital Management LLC Has $21.96 Million Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Geode Capital Management LLC trimmed its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 1.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,970,896 shares of the company’s stock after selling 52,001 shares during the period. Geode Capital Management LLC owned approximately 2.38% of Shoals Technologies Group worth $21,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its holdings 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 valued at $33,000 after purchasing an additional 1,906 shares during the period. Empirical Asset Management LLC purchased a new stake in Shoals Technologies Group in the 4th quarter worth approximately $59,000. Cibc World Markets Corp purchased a new stake in Shoals Technologies Group in the 4th quarter worth approximately $87,000. Versor Investments LP acquired a new stake in shares of Shoals Technologies Group during the 4th quarter valued at $91,000. Finally, Stratos Wealth Partners LTD. acquired a new position in shares of Shoals Technologies Group in the fourth quarter worth $110,000.

Insiders Place Their Bets

In other news, CEO Brandon Moss sold 21,700 shares of the business’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 transaction of $66,619.00. Following the sale, the chief executive officer now directly owns 1,051,303 shares in the company, valued at approximately $3,227,500.21. The trade was a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last quarter, insiders sold 40,575 shares of company stock worth $123,957. 1.67% of the stock is currently owned by company insiders.

Shoals Technologies Group Price Performance

NASDAQ:SHLS opened at $3.38 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $9.17. The company has a fifty day moving average price of $3.45 and a 200 day moving average price of $4.50. The stock has a market cap of $564.44 million, a P/E ratio of 16.90, a PEG ratio of 0.52 and a beta of 1.54.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on SHLS. Jefferies Financial Group lowered their target price on Shoals Technologies Group from $4.60 to $3.40 and set a “hold” rating on the stock in a research note on Wednesday, March 12th. UBS Group dropped their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada reduced their target price on shares of Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. 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. Finally, Truist Financial reduced their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Shoals Technologies Group presently has an average rating of “Hold” and an average price target of $8.87.

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.