Electron Capital Partners LLC decreased its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS – Free Report) by 85.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 239,752 shares of the company’s stock after selling 1,433,739 shares during the period. Electron Capital Partners LLC’s holdings in Shoals Technologies Group were worth $1,496,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd grew its stake in shares of Shoals Technologies Group by 122.4% in the first quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock worth $54,000 after acquiring an additional 2,638 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Shoals Technologies Group in the second quarter valued at about $54,000. Versor Investments LP purchased a new stake in shares of Shoals Technologies Group in the second quarter valued at about $80,000. Pallas Capital Advisors LLC purchased a new stake in shares of Shoals Technologies Group in the second quarter valued at about $90,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Shoals Technologies Group in the first quarter valued at about $92,000.
Shoals Technologies Group Stock Down 10.1 %
Shares of NASDAQ SHLS opened at $5.68 on Thursday. The stock has a 50-day moving average price of $5.88 and a two-hundred day moving average price of $7.50. Shoals Technologies Group, Inc. has a 12 month low of $4.88 and a 12 month high of $20.63. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.27. The company has a market cap of $946.57 million, a price-to-earnings ratio of 31.56, a PEG ratio of 0.92 and a beta of 1.74.
Analyst Ratings Changes
SHLS has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. UBS Group lowered their price target on shares of 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. Cantor Fitzgerald reissued an “overweight” rating and set a $12.00 price objective on shares of Shoals Technologies Group in a research note on Tuesday, September 17th. Barclays cut their target price on shares of Shoals Technologies Group from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Shoals Technologies Group from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $11.06.
Get Our Latest Stock Report on Shoals Technologies Group
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.
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