Amundi Has $1.64 Million Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Amundi trimmed its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 38.2% in the fourth quarter, HoldingsChannel reports. The firm owned 273,338 shares of the company’s stock after selling 169,264 shares during the period. Amundi’s holdings in Shoals Technologies Group were worth $1,640,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Janney Montgomery Scott LLC bought a new stake in shares of Shoals Technologies Group during the third quarter worth $833,000. Entropy Technologies LP acquired a new position in Shoals Technologies Group during the 3rd quarter worth about $182,000. GSA Capital Partners LLP bought a new stake in Shoals Technologies Group during the 3rd quarter worth about $104,000. TrinityPoint Wealth LLC acquired a new stake in Shoals Technologies Group in the 3rd quarter valued at about $60,000. Finally, Corbyn Investment Management Inc. MD increased its position in Shoals Technologies Group by 7.6% in the 3rd quarter. Corbyn Investment Management Inc. MD now owns 155,778 shares of the company’s stock valued at $874,000 after acquiring an additional 10,975 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently commented on SHLS. Guggenheim decreased their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. decreased their price objective on Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Roth Mkm dropped their target price on Shoals Technologies Group from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Morgan Stanley upgraded Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group dropped their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Three research 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, the company has an average rating of “Hold” and an average price target of $8.87.

Shoals Technologies Group Stock Down 0.3 %

NASDAQ:SHLS opened at $3.25 on Tuesday. Shoals Technologies Group, Inc. has a 1 year low of $2.71 and a 1 year high of $12.98. The stock has a 50-day moving average price of $4.25 and a two-hundred day moving average price of $4.96. The stock has a market cap of $542.73 million, a price-to-earnings ratio of 16.25, a PEG ratio of 0.52 and a beta of 1.69. 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 data on Wednesday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The business had revenue of $107.00 million during the quarter, compared to analyst estimates of $102.16 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. Shoals Technologies Group’s revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Insider Activity

In related news, CEO Brandon Moss sold 21,700 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total transaction of $66,619.00. Following the sale, the chief executive officer now directly owns 1,051,303 shares in the company, valued at $3,227,500.21. This trade represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 40,575 shares of company stock worth $123,957 over the last quarter. 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.