Dynamic Technology Lab Private Ltd Purchases 11,441 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Dynamic Technology Lab Private Ltd lifted its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 10.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 120,670 shares of the company’s stock after purchasing an additional 11,441 shares during the period. Dynamic Technology Lab Private Ltd owned 0.07% of Shoals Technologies Group worth $677,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SHLS. 1620 Investment Advisors Inc. acquired a new stake in Shoals Technologies Group in the 2nd quarter worth $54,000. TrinityPoint Wealth LLC acquired a new stake in Shoals Technologies Group during the third quarter worth about $60,000. Mackenzie Financial Corp bought a new position in Shoals Technologies Group during the second quarter valued at about $64,000. American Trust acquired a new position in Shoals Technologies Group in the 2nd quarter valued at approximately $68,000. Finally, Versor Investments LP bought a new stake in shares of Shoals Technologies Group in the 2nd quarter worth approximately $80,000.

Analyst Upgrades and Downgrades

SHLS has been the topic of a number of research reports. Citigroup upgraded Shoals Technologies Group from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $5.00 to $5.50 in a research report on Thursday, October 3rd. Cantor Fitzgerald restated an “overweight” rating and issued a $12.00 price objective on shares of Shoals Technologies Group in a research note on Tuesday, September 17th. Bank of America assumed coverage on shares of Shoals Technologies Group in a report on Monday. They set a “buy” rating and a $6.00 price objective for the company. Oppenheimer lowered their target price on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Truist Financial dropped 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $11.31.

Shoals Technologies Group Trading Up 5.0 %

SHLS opened at $5.26 on Friday. Shoals Technologies Group, Inc. has a 1-year low of $4.07 and a 1-year high of $17.50. The firm has a 50-day moving average price of $5.29 and a two-hundred day moving average price of $5.99. The stock has a market capitalization of $876.84 million, a PE ratio of 26.30, a PEG ratio of 0.73 and a beta of 1.73. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company had revenue of $102.20 million during the quarter, compared to analyst estimates of $98.86 million. During the same period in the prior year, the business earned $0.16 EPS. The business’s revenue for the quarter was down 23.8% on a year-over-year basis. As a group, equities analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss purchased 22,300 shares of the stock in a transaction dated Thursday, November 21st. The stock was bought at an average price of $4.55 per share, for a total transaction of $101,465.00. Following the transaction, the chief executive officer now directly owns 593,700 shares in the company, valued at $2,701,335. This represents a 3.90 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 1.67% of the stock is currently owned by corporate insiders.

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.