Shoals Technologies Group, Inc. (NASDAQ:SHLS) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 30.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,063 shares of the company’s stock after selling 45,803 shares during the period. Sei Investments Co. owned about 0.06% of Shoals Technologies Group worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SHLS. PNC Financial Services Group Inc. lifted its holdings in shares of Shoals Technologies Group by 14.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,633 shares of the company’s stock valued at $181,000 after buying an additional 1,429 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Shoals Technologies Group by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 184,913 shares of the company’s stock valued at $2,068,000 after acquiring an additional 1,857 shares during the period. ProShare Advisors LLC boosted its position in Shoals Technologies Group by 6.3% in the 1st quarter. ProShare Advisors LLC now owns 41,051 shares of the company’s stock worth $459,000 after purchasing an additional 2,427 shares in the last quarter. ANTIPODES PARTNERS Ltd grew its stake in shares of Shoals Technologies Group by 122.4% during the 1st quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock worth $54,000 after purchasing an additional 2,638 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of Shoals Technologies Group by 16.3% during the 1st quarter. Principal Financial Group Inc. now owns 23,069 shares of the company’s stock valued at $258,000 after purchasing an additional 3,230 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SHLS shares. Royal Bank of Canada reissued an “outperform” rating and set a $11.00 price target on shares of Shoals Technologies Group in a report on Friday, September 6th. Oppenheimer lowered their target price on shares of 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. Roth Mkm cut their price target on Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Truist Financial reduced their price target on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, September 6th. Finally, Citigroup raised Shoals Technologies Group from a “sell” rating to a “neutral” rating and raised their price objective for the company from $5.00 to $5.50 in a report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Shoals Technologies Group presently has a consensus rating of “Hold” and a consensus price target of $11.08.

Shoals Technologies Group Stock Performance

NASDAQ:SHLS opened at $4.92 on Wednesday. Shoals Technologies Group, Inc. has a twelve month low of $4.85 and a twelve month high of $18.46. The company has a market cap of $838.47 million, a P/E ratio of 27.33, a P/E/G ratio of 0.74 and a beta of 1.74. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $5.68 and its 200-day moving average price is $7.09.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Tuesday, August 6th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 12.75% and a net margin of 5.13%. 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 business’s revenue for the quarter was down 16.7% compared to the same quarter last year. On average, sell-side analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share 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.