Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Bought by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lifted its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 17.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,313 shares of the company’s stock after purchasing an additional 3,415 shares during the period. Stratos Wealth Partners LTD.’s holdings in Shoals Technologies Group were worth $77,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Teacher Retirement System of Texas purchased a new position in shares of Shoals Technologies Group in the 1st quarter worth $81,000. Cidel Asset Management Inc. boosted its stake in Shoals Technologies Group by 17.0% in the first quarter. Cidel Asset Management Inc. now owns 68,852 shares of the company’s stock valued at $229,000 after acquiring an additional 9,982 shares during the period. Janney Montgomery Scott LLC lifted its stake in Shoals Technologies Group by 187.9% in the first quarter. Janney Montgomery Scott LLC now owns 269,096 shares of the company’s stock valued at $893,000 after buying an additional 175,627 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Shoals Technologies Group in the 1st quarter worth about $65,000. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Shoals Technologies Group during the first quarter valued at $64,000.

Shoals Technologies Group Stock Down 1.9%

NASDAQ:SHLS opened at $5.70 on Friday. Shoals Technologies Group, Inc. has a 1-year low of $2.71 and a 1-year high of $7.03. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.34 and a quick ratio of 1.58. The company has a 50-day moving average of $5.16 and a 200 day moving average of $4.41. The firm has a market cap of $952.93 million, a PE ratio of 47.50, a price-to-earnings-growth ratio of 0.78 and a beta of 1.59.

Shoals Technologies Group (NASDAQ:SHLS) last posted 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). Shoals Technologies Group had a net margin of 4.90% and a return on equity of 7.63%. The company had revenue of $80.36 million during the quarter, compared to analyst estimates of $74.66 million. During the same quarter last year, the business posted $0.07 EPS. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. As a group, research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SHLS shares. Citigroup lifted their target price on Shoals Technologies Group from $4.50 to $5.50 and gave the company a “neutral” rating in a research note on Wednesday, May 7th. Mizuho downgraded shares of Shoals Technologies Group from an “outperform” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research report on Monday. BNP Paribas reissued an “underperform” rating and issued a $4.00 price objective (down from $4.50) on shares of Shoals Technologies Group in a research report on Thursday, May 15th. Guggenheim upped their price objective on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Finally, BNP Paribas Exane cut shares of Shoals Technologies Group from a “neutral” rating to an “underperform” rating and set a $4.00 price objective for the company. in a research report on Thursday, May 15th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Shoals Technologies Group presently has an average rating of “Hold” and a consensus target price of $8.63.

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.