Headlands Technologies LLC Invests $82,000 in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Headlands Technologies LLC purchased a new position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the first quarter, HoldingsChannel reports. The firm purchased 24,782 shares of the company’s stock, valued at approximately $82,000.

Several other large investors have also recently added to or reduced their stakes in SHLS. Wellington Management Group LLP grew its position in Shoals Technologies Group by 8.6% during the fourth quarter. Wellington Management Group LLP now owns 14,233,342 shares of the company’s stock worth $78,710,000 after buying an additional 1,125,938 shares during the period. Invesco Ltd. boosted its stake in shares of Shoals Technologies Group by 20.7% during the 4th quarter. Invesco Ltd. now owns 6,415,911 shares of the company’s stock worth $35,480,000 after acquiring an additional 1,098,577 shares in the last quarter. Encompass Capital Advisors LLC grew its holdings in shares of Shoals Technologies Group by 14.5% in the 4th quarter. Encompass Capital Advisors LLC now owns 5,410,245 shares of the company’s stock worth $29,919,000 after acquiring an additional 683,642 shares during the period. Frontier Capital Management Co. LLC increased its stake in Shoals Technologies Group by 34.5% in the 4th quarter. Frontier Capital Management Co. LLC now owns 2,501,876 shares of the company’s stock valued at $13,835,000 after purchasing an additional 641,328 shares in the last quarter. Finally, Redwood Grove Capital LLC increased its stake in Shoals Technologies Group by 12.8% in the 4th quarter. Redwood Grove Capital LLC now owns 2,054,273 shares of the company’s stock valued at $11,360,000 after purchasing an additional 233,373 shares in the last quarter.

Shoals Technologies Group Price Performance

Shares of NASDAQ:SHLS opened at $4.62 on Wednesday. The company has a market cap of $772.37 million, a P/E ratio of 35.54, a P/E/G ratio of 0.61 and a beta of 1.61. The business has a fifty day simple moving average of $5.30 and a 200-day simple moving average of $4.40. Shoals Technologies Group, Inc. has a 52 week low of $2.71 and a 52 week high of $7.00. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. The company had revenue of $110.84 million during the quarter, compared to analysts’ expectations of $104.87 million. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. Equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on SHLS shares. Roth Capital raised Shoals Technologies Group from a “neutral” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Thursday, August 7th. The Goldman Sachs Group increased their price objective on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Jefferies Financial Group upgraded shares of Shoals Technologies Group from a “hold” rating to a “buy” rating and raised their target price for the company from $4.90 to $7.20 in a report on Monday, July 7th. Barclays upped their price target on shares of Shoals Technologies Group from $4.00 to $7.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. 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 note on Thursday, May 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.15.

About Shoals Technologies Group

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.