Qsemble Capital Management LP Decreases Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Qsemble Capital Management LP cut its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 52.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,913 shares of the company’s stock after selling 30,200 shares during the period. Qsemble Capital Management LP’s holdings in Shoals Technologies Group were worth $174,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. ANTIPODES PARTNERS Ltd lifted its holdings in Shoals Technologies Group by 122.4% in the first quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock valued at $54,000 after acquiring an additional 2,638 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Shoals Technologies Group in the 2nd quarter valued at about $54,000. Versor Investments LP acquired a new stake in Shoals Technologies Group in the 2nd quarter worth about $80,000. Pallas Capital Advisors LLC purchased a new stake in Shoals Technologies Group during the 2nd quarter worth approximately $90,000. Finally, Headlands Technologies LLC purchased a new position in Shoals Technologies Group in the 1st quarter valued at $92,000.

Shoals Technologies Group Price Performance

Shares of NASDAQ:SHLS opened at $6.35 on Friday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 0.93 and a beta of 1.74. Shoals Technologies Group, Inc. has a one year low of $4.88 and a one year high of $22.05. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.26 and a quick ratio of 1.50. The firm has a 50 day simple moving average of $5.94 and a 200 day simple moving average of $7.89.

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, topping 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 firm had revenue of $99.25 million during the quarter, compared to the consensus estimate of $90.57 million. During the same period last year, the business posted $0.12 EPS. The business’s revenue was down 16.7% compared to the same quarter last year. Research analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHLS has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $11.00 price target on shares of Shoals Technologies Group in a report on Friday, September 6th. UBS Group cut their price objective on Shoals Technologies Group from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Piper Sandler boosted their price target on shares of Shoals Technologies Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. dropped their price objective on Shoals Technologies Group from $23.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Truist Financial reduced their price target on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Four analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $11.17.

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.