Deutsche Bank AG Grows Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Deutsche Bank AG lifted its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 16.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 332,314 shares of the company’s stock after buying an additional 47,996 shares during the period. Deutsche Bank AG owned approximately 0.20% of Shoals Technologies Group worth $1,838,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of SHLS. Schonfeld Strategic Advisors LLC lifted its holdings in Shoals Technologies Group by 189.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 123,695 shares of the company’s stock worth $684,000 after buying an additional 80,911 shares in the last quarter. Impax Asset Management Group plc raised its holdings in shares of Shoals Technologies Group by 126.3% during the fourth quarter. Impax Asset Management Group plc now owns 3,469,360 shares of the company’s stock valued at $19,083,000 after buying an additional 1,935,983 shares during the last quarter. RWC Asset Management LLP acquired a new position in Shoals Technologies Group during the 4th quarter valued at about $1,891,000. Erste Asset Management GmbH boosted its stake in Shoals Technologies Group by 3.7% during the 4th quarter. Erste Asset Management GmbH now owns 3,593,806 shares of the company’s stock valued at $20,269,000 after purchasing an additional 128,664 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in Shoals Technologies Group by 45.3% in the 4th quarter. Ameriprise Financial Inc. now owns 1,882,420 shares of the company’s stock valued at $10,410,000 after acquiring an additional 587,235 shares during the last quarter.

Shoals Technologies Group Stock Performance

Shares of Shoals Technologies Group stock opened at $4.59 on Friday. The firm has a fifty day moving average of $3.84 and a two-hundred day moving average of $4.35. The stock has a market capitalization of $766.51 million, a price-to-earnings ratio of 22.95, a PEG ratio of 0.52 and a beta of 1.52. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. Shoals Technologies Group, Inc. has a 52 week low of $2.71 and a 52 week high of $8.52.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm had revenue of $80.36 million during the quarter, compared to the consensus estimate of $74.66 million. During the same quarter in the prior year, the company earned $0.07 EPS. Shoals Technologies Group’s quarterly revenue was down 11.2% on a year-over-year basis. As a group, equities research analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Wall Street Analysts Forecast Growth

SHLS has been the subject of a number of analyst reports. Mizuho reduced their price objective on shares of Shoals Technologies Group from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Wolfe Research initiated coverage on Shoals Technologies Group in a research note on Tuesday, February 18th. They issued a “peer perform” rating on the stock. Oppenheimer decreased their target price on Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada lowered their price target on Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. Finally, BNP Paribas Exane downgraded Shoals Technologies Group from a “neutral” rating to an “underperform” rating and set a $4.00 price objective on the stock. in a report on Thursday, May 15th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.40.

Insider Buying and Selling

In related news, CEO Brandon Moss sold 21,700 shares of the company’s stock in a transaction dated 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 owns 1,051,303 shares in the company, valued at approximately $3,227,500.21. This represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 40,575 shares of company stock valued at $123,957. Company insiders own 1.67% of the company’s stock.

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.