Healthcare of Ontario Pension Plan Trust Fund Has $3.09 Million Stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Healthcare of Ontario Pension Plan Trust Fund increased its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 1.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 551,055 shares of the company’s stock after buying an additional 8,918 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.33% of Shoals Technologies Group worth $3,091,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SHLS. Price T Rowe Associates Inc. MD raised its holdings in shares of Shoals Technologies Group by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 184,913 shares of the company’s stock valued at $2,068,000 after purchasing an additional 1,857 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Shoals Technologies Group in the first quarter worth about $446,000. Comerica Bank boosted its stake in shares of Shoals Technologies Group by 2,823.0% during the 1st quarter. Comerica Bank now owns 89,209 shares of the company’s stock worth $997,000 after acquiring an additional 86,157 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Shoals Technologies Group by 159.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 28,003 shares of the company’s stock worth $313,000 after acquiring an additional 17,203 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Shoals Technologies Group by 1,240.8% during the 2nd quarter. CWM LLC now owns 15,768 shares of the company’s stock valued at $98,000 after acquiring an additional 14,592 shares during the last quarter.

Insider Buying and Selling at Shoals Technologies Group

In other news, CEO Brandon Moss bought 22,300 shares of the business’s 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.67% of the company’s stock.

Wall Street Analysts Forecast Growth

SHLS has been the subject of a number of recent analyst reports. TD Cowen upped their target price on Shoals Technologies Group from $9.50 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Roth Capital downgraded shares of Shoals Technologies Group from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $12.00 target price on shares of Shoals Technologies Group in a research report on Tuesday, September 17th. Citigroup upgraded shares of Shoals Technologies Group from a “sell” rating to a “neutral” rating and upped their price target for the company from $5.00 to $5.50 in a report on Thursday, October 3rd. Finally, Oppenheimer dropped their price objective on 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. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Shoals Technologies Group currently has an average rating of “Hold” and a consensus price target of $11.31.

Shoals Technologies Group Trading Down 0.8 %

Shares of SHLS opened at $5.22 on Friday. 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 stock has a market cap of $870.17 million, a PE ratio of 26.10, a PEG ratio of 0.76 and a beta of 1.73. Shoals Technologies Group, Inc. has a 1 year low of $4.07 and a 1 year high of $17.50. The stock has a 50 day simple moving average of $5.25 and a 200-day simple moving average of $5.97.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share (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 quarter in the prior year, the company earned $0.16 earnings per share. The business’s revenue was down 23.8% compared to the same quarter last year. On average, sell-side analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS 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.