Mirae Asset Global Investments Co. Ltd. Lowers Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Mirae Asset Global Investments Co. Ltd. decreased its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 37.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the company’s stock after selling 59,554 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of Shoals Technologies Group worth $583,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. ANTIPODES PARTNERS Ltd increased its position in Shoals Technologies Group by 122.4% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock valued at $54,000 after purchasing an additional 2,638 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Shoals Technologies Group during the second quarter valued at approximately $54,000. Mackenzie Financial Corp bought a new position in Shoals Technologies Group in the second quarter worth approximately $64,000. American Trust purchased a new stake in Shoals Technologies Group during the second quarter worth $68,000. Finally, Versor Investments LP bought a new stake in Shoals Technologies Group during the 2nd quarter valued at $80,000.

Shoals Technologies Group Trading Up 2.6 %

NASDAQ SHLS opened at $5.55 on Friday. Shoals Technologies Group, Inc. has a 1 year low of $4.85 and a 1 year high of $17.50. 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 company has a market capitalization of $924.91 million, a PE ratio of 39.64, a P/E/G ratio of 0.78 and a beta of 1.73. The company has a fifty day moving average of $5.55 and a 200 day moving average of $6.40.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SHLS shares. Royal Bank of Canada restated an “outperform” rating and set a $11.00 price objective on shares of Shoals Technologies Group in a research note on Friday, September 6th. JPMorgan Chase & Co. decreased their price target on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Roth Capital downgraded shares of Shoals Technologies Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 7th. Oppenheimer decreased their target price on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Finally, UBS Group lowered their target price on shares of Shoals Technologies Group from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Shoals Technologies Group has a consensus rating of “Hold” and a consensus target price of $12.55.

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.