XTX Topco Ltd Buys 86,249 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

XTX Topco Ltd lifted its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 200.9% during the first quarter, Holdings Channel reports. The fund owned 129,178 shares of the company’s stock after acquiring an additional 86,249 shares during the quarter. XTX Topco Ltd’s holdings in Shoals Technologies Group were worth $429,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Cerity Partners LLC acquired a new stake in Shoals Technologies Group in the 1st quarter valued at approximately $43,000. MQS Management LLC acquired a new stake in Shoals Technologies Group in the 1st quarter valued at approximately $43,000. Pallas Capital Advisors LLC acquired a new stake in shares of Shoals Technologies Group during the 1st quarter worth approximately $64,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Shoals Technologies Group during the 1st quarter worth approximately $65,000. Finally, American Trust acquired a new stake in shares of Shoals Technologies Group during the 4th quarter worth approximately $72,000.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Roth Capital raised Shoals Technologies Group from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Thursday. UBS Group decreased their price objective on Shoals Technologies Group from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. BNP Paribas reissued an “underperform” rating and set a $4.00 price objective (down previously from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. Mizuho lowered Shoals Technologies Group from an “outperform” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a report on Monday, July 14th. Finally, Wall Street Zen raised Shoals Technologies Group from a “hold” rating to a “strong-buy” rating in a report on Saturday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Shoals Technologies Group currently has an average rating of “Moderate Buy” and a consensus price target of $9.15.

Shoals Technologies Group Stock Down 1.0%

Shares of SHLS opened at $4.72 on Friday. The company has a market capitalization of $789.09 million, a PE ratio of 36.31, a PEG ratio of 0.65 and a beta of 1.61. Shoals Technologies Group, Inc. has a 12 month low of $2.71 and a 12 month high of $7.00. The stock’s 50-day moving average price is $5.31 and its two-hundred day moving average price is $4.40. The company has a current ratio of 2.34, a quick ratio of 1.58 and a debt-to-equity ratio of 0.23.

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

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.