Shoals Technologies Group, Inc. $SHLS Shares Purchased by American Century Companies Inc.

American Century Companies Inc. grew its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 128.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,754,266 shares of the company’s stock after purchasing an additional 1,548,094 shares during the period. American Century Companies Inc. owned approximately 1.65% of Shoals Technologies Group worth $11,706,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in shares of Shoals Technologies Group by 449.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock valued at $31,000 after buying an additional 5,910 shares during the period. Savant Capital LLC acquired a new position in Shoals Technologies Group in the 2nd quarter valued at about $50,000. Ethic Inc. purchased a new stake in Shoals Technologies Group during the second quarter worth about $54,000. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Shoals Technologies Group during the first quarter worth about $44,000. Finally, Virtu Financial LLC purchased a new position in shares of Shoals Technologies Group in the first quarter valued at approximately $46,000.

Shoals Technologies Group Trading Up 4.2%

Shares of Shoals Technologies Group stock opened at $7.93 on Friday. The company has a current ratio of 2.19, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The company has a fifty day simple moving average of $8.97 and a 200-day simple moving average of $6.82. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 39.65, a PEG ratio of 0.95 and a beta of 1.71. Shoals Technologies Group, Inc. has a 12-month low of $2.71 and a 12-month high of $11.36.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.12 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.12. The firm had revenue of $135.80 million during the quarter, compared to analysts’ expectations of $131.37 million. Shoals Technologies Group had a net margin of 7.66% and a return on equity of 8.50%. On average, equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Analyst Ratings Changes

SHLS has been the topic of several recent research reports. Barclays raised shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $7.00 to $10.00 in a research note on Thursday, October 2nd. Zacks Research lowered Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of Shoals Technologies Group in a research note on Tuesday, October 14th. JPMorgan Chase & Co. boosted their target price on Shoals Technologies Group from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Finally, Jefferies Financial Group increased their price target on Shoals Technologies Group from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Thirteen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Shoals Technologies Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.84.

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.