Janus Henderson Group PLC Purchases 6,503 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Janus Henderson Group PLC lifted its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 2.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 294,598 shares of the company’s stock after buying an additional 6,503 shares during the period. Janus Henderson Group PLC’s holdings in Shoals Technologies Group were worth $1,653,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SHLS. Erste Asset Management GmbH bought a new position in shares of Shoals Technologies Group in the third quarter worth approximately $20,191,000. Millennium Management LLC lifted its stake in shares of Shoals Technologies Group by 262.8% in the second quarter. Millennium Management LLC now owns 3,371,593 shares of the company’s stock worth $21,039,000 after buying an additional 2,442,227 shares in the last quarter. Verition Fund Management LLC lifted its stake in shares of Shoals Technologies Group by 938.3% in the third quarter. Verition Fund Management LLC now owns 2,251,093 shares of the company’s stock worth $12,629,000 after buying an additional 2,034,291 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Shoals Technologies Group by 8,389.5% in the second quarter. Federated Hermes Inc. now owns 1,222,482 shares of the company’s stock worth $7,628,000 after buying an additional 1,208,082 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Shoals Technologies Group by 505.8% in the second quarter. AQR Capital Management LLC now owns 1,020,428 shares of the company’s stock worth $6,367,000 after buying an additional 851,978 shares in the last quarter.

Analyst Upgrades and Downgrades

SHLS has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on shares of Shoals Technologies Group in a research report on Wednesday, September 4th. They set a “hold” rating and a $5.00 price objective on the stock. Guggenheim lowered their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Royal Bank of Canada restated an “outperform” rating and set a $11.00 price objective on shares of Shoals Technologies Group in a research report on Friday, September 6th. JPMorgan Chase & Co. lowered their price objective on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Finally, Barclays lowered their price objective on shares of Shoals Technologies Group from $7.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 13th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.31.

Insider Activity at Shoals Technologies Group

In related news, CEO Brandon Moss bought 22,300 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average cost of $4.55 per share, with a total value of $101,465.00. Following the completion of the purchase, the chief executive officer now owns 593,700 shares of the company’s stock, valued at approximately $2,701,335. The trade was a 3.90 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 8,920 shares of company stock valued at $45,863. Corporate insiders own 1.67% of the company’s stock.

Shoals Technologies Group Stock Performance

Shares of NASDAQ SHLS opened at $4.41 on Friday. The firm has a fifty day moving average price of $5.07 and a 200-day moving average price of $5.83. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. The stock has a market cap of $735.14 million, a PE ratio of 22.05, a price-to-earnings-growth ratio of 0.66 and a beta of 1.69. Shoals Technologies Group, Inc. has a 1 year low of $4.07 and a 1 year high of $17.50.

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

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.