561,811 Shares in Shoals Technologies Group, Inc. (NASDAQ:SHLS) Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets acquired a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 561,811 shares of the company’s stock, valued at approximately $3,107,000. BNP Paribas Financial Markets owned about 0.34% of Shoals Technologies Group as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Schonfeld Strategic Advisors LLC lifted its position in shares of Shoals Technologies Group by 189.1% during 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 during the last quarter. Impax Asset Management Group plc raised its position in Shoals Technologies Group by 126.3% in 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 purchasing an additional 1,935,983 shares during the last quarter. RWC Asset Management LLP bought a new position in Shoals Technologies Group in the fourth quarter valued at about $1,891,000. Erste Asset Management GmbH raised its position in Shoals Technologies Group by 3.7% in the fourth 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 during the last quarter. Finally, Decade Renewable Partners LP bought a new position in Shoals Technologies Group in the fourth quarter valued at about $1,300,000.

Shoals Technologies Group Stock Performance

Shares of SHLS stock opened at $4.58 on Friday. The company’s fifty day simple moving average is $3.66 and its 200-day simple moving average is $4.39. Shoals Technologies Group, Inc. has a 52 week low of $2.71 and a 52 week 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 company has a market cap of $764.84 million, a PE ratio of 22.90, a P/E/G ratio of 0.52 and a beta of 1.52.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data 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 return on equity of 9.83% and a net margin of 7.78%. The company had revenue of $80.36 million for the quarter, compared to analyst estimates of $74.66 million. During the same period in the prior year, the business earned $0.07 earnings per share. Shoals Technologies Group’s revenue was down 11.2% on a year-over-year basis. As a group, equities research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were 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 approximately $3,227,500.21. This represents a 2.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 40,575 shares of company stock worth $123,957 in the last ninety days. 1.67% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SHLS shares. Citigroup increased their price target 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. UBS Group decreased their price target on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. BNP Paribas Exane cut Shoals Technologies Group from a “neutral” rating to an “underperform” rating and set a $4.00 price target for the company. in a research note on Thursday. 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. Finally, JPMorgan Chase & Co. decreased their target price on Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Shoals Technologies Group has an average rating of “Hold” and a consensus price target of $8.40.

Shoals Technologies Group 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.