GSA Capital Partners LLP Invests $104,000 in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

GSA Capital Partners LLP acquired a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 18,572 shares of the company’s stock, valued at approximately $104,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. 1620 Investment Advisors Inc. purchased a new stake in Shoals Technologies Group during the second quarter valued at about $54,000. Mackenzie Financial Corp bought a new position in Shoals Technologies Group during the 2nd quarter valued at approximately $64,000. American Trust purchased a new stake in Shoals Technologies Group in the 2nd quarter worth approximately $68,000. Versor Investments LP bought a new stake in shares of Shoals Technologies Group in the 2nd quarter worth approximately $80,000. Finally, Pallas Capital Advisors LLC purchased a new stake in Shoals Technologies Group in the second quarter worth $90,000.

Analysts Set New Price Targets

SHLS has been the subject of several research analyst reports. Cantor Fitzgerald restated an “overweight” rating and issued a $12.00 price objective on shares of Shoals Technologies Group in a report on Tuesday, September 17th. 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 research report on Thursday, October 3rd. Roth Mkm dropped their target price on shares of Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. JPMorgan Chase & Co. decreased their price target on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Finally, Piper Sandler dropped their price objective on shares of Shoals Technologies Group from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Friday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.31.

Shoals Technologies Group Stock Up 5.0 %

SHLS opened at $5.07 on Tuesday. The stock has a market capitalization of $845.17 million, a price-to-earnings ratio of 25.35, a PEG ratio of 0.70 and a beta of 1.73. Shoals Technologies Group, Inc. has a twelve month low of $4.07 and a twelve month high of $17.50. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average price of $5.33 and a 200-day moving average price of $6.01.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share 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 business had revenue of $102.20 million during the quarter, compared to the consensus estimate of $98.86 million. During the same quarter in the previous year, the business posted $0.16 earnings per share. The firm’s revenue was down 23.8% on a year-over-year basis. Equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Brandon Moss purchased 22,300 shares of Shoals Technologies Group stock in a transaction on Thursday, November 21st. The shares were bought at an average cost of $4.55 per share, for a total transaction of $101,465.00. Following the acquisition, the chief executive officer now owns 593,700 shares in the company, 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. 0.36% of the stock is currently owned by company insiders.

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.