Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Sold by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 6.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 218,800 shares of the company’s stock after selling 14,103 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.13% of Shoals Technologies Group worth $1,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC increased its holdings in shares of Shoals Technologies Group by 20.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company’s stock valued at $86,000 after purchasing an additional 2,652 shares during the period. Cibc World Markets Corp acquired a new position in Shoals Technologies Group during the 4th quarter valued at about $87,000. Versor Investments LP acquired a new position in Shoals Technologies Group during the 4th quarter valued at about $91,000. Granahan Investment Management LLC bought a new stake in shares of Shoals Technologies Group during the 4th quarter worth about $99,000. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Shoals Technologies Group in the 4th quarter worth approximately $110,000.

Insider Activity at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total value of $66,619.00. Following the transaction, the chief executive officer now owns 1,051,303 shares in the company, valued at $3,227,500.21. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 40,575 shares of company stock valued at $123,957. Corporate insiders own 1.67% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SHLS. Piper Sandler lowered their price objective on shares of Shoals Technologies Group from $8.00 to $6.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. UBS Group lowered their price target on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Citigroup upped their price objective on Shoals Technologies Group from $4.50 to $5.50 and gave the company a “neutral” rating in a report on Wednesday, May 7th. Royal Bank of Canada decreased their target price on 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. Finally, BNP Paribas Exane cut shares of Shoals Technologies Group from a “neutral” rating to an “underperform” rating and set a $4.00 price target on the stock. in a research 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 assigned a buy rating to the stock. According to MarketBeat, Shoals Technologies Group has a consensus rating of “Hold” and a consensus target price of $8.40.

Shoals Technologies Group Stock Performance

Shares of SHLS stock opened at $4.59 on Monday. The company has a market capitalization of $766.51 million, a price-to-earnings ratio of 22.95, a P/E/G ratio of 0.52 and a beta of 1.52. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $8.52. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $3.84 and its 200-day simple moving average is $4.33.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $80.36 million for the quarter, compared to analysts’ expectations of $74.66 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company’s revenue was down 11.2% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. On average, sell-side analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

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.