Headlands Technologies LLC Boosts Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Headlands Technologies LLC raised its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 440.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,431 shares of the company’s stock after buying an additional 36,212 shares during the quarter. Headlands Technologies LLC’s holdings in Shoals Technologies Group were worth $277,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Shoals Technologies Group by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 16,531,712 shares of the company’s stock valued at $184,825,000 after purchasing an additional 171,273 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Shoals Technologies Group by 28.5% in the 4th quarter. Wellington Management Group LLP now owns 12,910,322 shares of the company’s stock valued at $200,626,000 after purchasing an additional 2,864,879 shares in the last quarter. William Blair Investment Management LLC lifted its stake in shares of Shoals Technologies Group by 71.6% in the 1st quarter. William Blair Investment Management LLC now owns 10,221,644 shares of the company’s stock valued at $114,278,000 after purchasing an additional 4,263,964 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Shoals Technologies Group by 2.7% in the 4th quarter. Clearbridge Investments LLC now owns 8,976,984 shares of the company’s stock valued at $139,502,000 after purchasing an additional 233,377 shares in the last quarter. Finally, Joho Capital LLC lifted its stake in shares of Shoals Technologies Group by 111.6% in the 1st quarter. Joho Capital LLC now owns 6,423,545 shares of the company’s stock valued at $71,815,000 after purchasing an additional 3,387,539 shares in the last quarter.

Shoals Technologies Group Price Performance

SHLS stock opened at $6.35 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.27. Shoals Technologies Group, Inc. has a 52-week low of $4.88 and a 52-week high of $22.05. The stock’s 50 day moving average is $5.94 and its two-hundred day moving average is $7.95. The company has a market capitalization of $1.06 billion, a PE ratio of 35.28, a P/E/G ratio of 0.93 and a beta of 1.74.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 12.75% and a net margin of 5.13%. The business had revenue of $99.25 million during the quarter, compared to the consensus estimate of $90.57 million. During the same period in the previous year, the business earned $0.12 EPS. The business’s quarterly revenue was down 16.7% on a year-over-year basis. Analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

SHLS has been the topic of several research analyst reports. Roth Mkm reduced their price objective on Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. UBS Group reduced their price objective on Shoals Technologies Group from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, August 7th. BNP Paribas lowered Shoals Technologies Group from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $7.00 in a research report on Wednesday, August 7th. Jefferies Financial Group started coverage on Shoals Technologies Group in a research report on Wednesday, September 4th. They set a “hold” rating and a $5.00 price target on the stock. Finally, Barclays reduced their price target on Shoals Technologies Group from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $11.17.

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.