Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Sold by Centiva Capital LP

Centiva Capital LP lessened its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 93.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,622 shares of the company’s stock after selling 266,749 shares during the quarter. Centiva Capital LP’s holdings in Shoals Technologies Group were worth $110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SHLS. FMR LLC increased its stake in Shoals Technologies Group by 48.9% in the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock valued at $33,000 after purchasing an additional 1,906 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in Shoals Technologies Group during the 2nd quarter worth about $54,000. Mackenzie Financial Corp acquired a new position in Shoals Technologies Group in the 2nd quarter valued at about $64,000. TrinityPoint Wealth LLC purchased a new position in Shoals Technologies Group in the 3rd quarter valued at about $60,000. Finally, American Trust acquired a new stake in shares of Shoals Technologies Group during the 2nd quarter worth about $68,000.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wells Fargo & Company began coverage on shares of Shoals Technologies Group in a research note on Monday, October 14th. They set an “equal weight” rating and a $46.00 price objective on the stock. Guggenheim decreased their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, November 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $11.00 target price on shares of Shoals Technologies Group in a research note on Friday, September 6th. Truist Financial decreased their price target on 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. Finally, Morgan Stanley dropped their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Friday, November 15th. Three 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 company presently has an average rating of “Hold” and an average target price of $11.31.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $4.41 on Friday. Shoals Technologies Group, Inc. has a 12 month low of $4.07 and a 12 month high of $17.50. The stock’s 50-day moving average is $5.06 and its two-hundred day moving average is $5.80. 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 P/E/G ratio of 0.66 and a beta of 1.69.

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

Insider Activity

In other Shoals Technologies Group news, CEO Brandon Moss acquired 22,300 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $4.55 per share, for a total transaction of $101,465.00. Following the acquisition, the chief executive officer now directly owns 593,700 shares of the company’s stock, valued at $2,701,335. This trade represents a 3.90 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 8,920 shares of company stock worth $45,863. 1.67% of the stock is currently owned by company insiders.

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.