Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its position in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 12.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,219,787 shares of the company’s stock after selling 172,023 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Shoals Technologies Group were worth $6,745,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. FMR LLC raised its position in Shoals Technologies Group by 48.9% in the third quarter. FMR LLC now owns 5,806 shares of the company’s stock valued at $33,000 after purchasing an additional 1,906 shares during the period. Empirical Asset Management LLC purchased a new stake in shares of Shoals Technologies Group in the 4th quarter valued at $59,000. Versor Investments LP acquired a new position in Shoals Technologies Group during the 4th quarter worth about $91,000. GSA Capital Partners LLP purchased a new position in Shoals Technologies Group during the 3rd quarter valued at about $104,000. Finally, Stratos Wealth Partners LTD. purchased a new stake in Shoals Technologies Group during the fourth quarter worth about $110,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SHLS shares. Oppenheimer reduced their target price on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating on the stock in a report on Tuesday, January 28th. UBS Group cut their price target on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Barclays decreased their price objective on Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Bank of America initiated coverage on shares of Shoals Technologies Group in a research note on Monday, November 25th. They set a “buy” rating and a $6.00 target price on the stock. Finally, Wolfe Research initiated coverage on shares of Shoals Technologies Group in a research note on Tuesday, February 18th. They issued a “peer perform” rating for the company. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Shoals Technologies Group presently has a consensus rating of “Hold” and a consensus target price of $8.87.

Shoals Technologies Group Trading Up 0.3 %

Shares of SHLS stock opened at $3.32 on Tuesday. The company has a market capitalization of $554.42 million, a P/E ratio of 16.60, a price-to-earnings-growth 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. The business’s 50 day moving average is $3.98 and its two-hundred day moving average is $4.87. Shoals Technologies Group, Inc. has a twelve month low of $2.71 and a twelve month high of $12.30.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The firm had revenue of $107.00 million during the quarter, compared to analysts’ expectations of $102.16 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The business’s quarterly revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the business earned $0.12 earnings per share. Equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Insider Transactions at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of Shoals Technologies Group stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total value of $66,619.00. Following the sale, the chief executive officer now owns 1,051,303 shares of the company’s stock, valued at approximately $3,227,500.21. The trade was a 2.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 40,575 shares of company stock worth $123,957 over the last ninety days. 1.67% of the stock is currently owned by company insiders.

About Shoals Technologies Group

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.