Hsbc Holdings PLC Has $195,000 Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Hsbc Holdings PLC trimmed its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 9.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,658 shares of the company’s stock after selling 3,170 shares during the period. Hsbc Holdings PLC’s holdings in Shoals Technologies Group were worth $195,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Shoals Technologies Group by 1.0% in the first quarter. Vanguard Group Inc. now owns 16,531,712 shares of the company’s stock valued at $184,825,000 after buying an additional 171,273 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Shoals Technologies Group by 28.5% in the fourth quarter. Wellington Management Group LLP now owns 12,910,322 shares of the company’s stock worth $200,626,000 after acquiring an additional 2,864,879 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Shoals Technologies Group by 71.6% during the first quarter. William Blair Investment Management LLC now owns 10,221,644 shares of the company’s stock worth $114,278,000 after purchasing an additional 4,263,964 shares in the last quarter. Joho Capital LLC grew its stake in shares of Shoals Technologies Group by 111.6% during the first quarter. Joho Capital LLC now owns 6,423,545 shares of the company’s stock valued at $71,815,000 after purchasing an additional 3,387,539 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Shoals Technologies Group by 30.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 5,102,882 shares of the company’s stock worth $57,050,000 after purchasing an additional 1,179,834 shares during the last quarter.

Analyst Ratings Changes

Several research firms have recently commented on SHLS. Cantor Fitzgerald reissued an “overweight” rating and issued a $12.00 target price on shares of Shoals Technologies Group in a research note on Tuesday, September 17th. Barclays dropped their price objective on Shoals Technologies Group from $10.00 to $7.00 and set an “equal weight” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $11.00 target price on shares of Shoals Technologies Group in a research note on Friday, September 6th. Piper Sandler boosted their price target on shares of Shoals Technologies Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Finally, BNP Paribas cut shares of Shoals Technologies Group from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $15.00 to $7.00 in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $11.08.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $5.13 on Friday. The firm has a market cap of $854.91 million, a P/E ratio of 28.50, a PEG ratio of 0.74 and a beta of 1.74. Shoals Technologies Group, Inc. has a twelve month low of $4.88 and a twelve month high of $18.46. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.50 and a current ratio of 2.26. The firm’s 50 day moving average price is $5.71 and its two-hundred day moving average price is $7.21.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.13% and a return on equity of 12.75%. The business had revenue of $99.25 million for the quarter, compared to analysts’ expectations of $90.57 million. During the same period in the previous year, the firm posted $0.12 EPS. The firm’s revenue was down 16.7% compared to the same quarter last year. On average, analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

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.