Thrivent Financial for Lutherans Takes $1.21 Million Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Thrivent Financial for Lutherans bought a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 218,398 shares of the company’s stock, valued at approximately $1,207,000. Thrivent Financial for Lutherans owned about 0.13% of Shoals Technologies Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SHLS. FMR LLC grew its stake in shares of Shoals Technologies Group by 48.9% during the third quarter. FMR LLC now owns 5,806 shares of the company’s stock worth $33,000 after acquiring an additional 1,906 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Shoals Technologies Group by 2.3% in the third quarter. Janus Henderson Group PLC now owns 294,598 shares of the company’s stock valued at $1,653,000 after buying an additional 6,503 shares in the last quarter. Empirical Asset Management LLC purchased a new position in shares of Shoals Technologies Group in the 4th quarter valued at about $59,000. Cibc World Markets Corp purchased a new stake in shares of Shoals Technologies Group in the fourth quarter valued at approximately $87,000. Finally, Versor Investments LP purchased a new stake in Shoals Technologies Group in the 4th quarter worth $91,000.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $3.32 on Tuesday. The company has a 50-day simple moving average of $3.84 and a 200-day simple moving average of $4.78. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $11.60. 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 company has a market capitalization of $554.42 million, a PE ratio of 16.60, a P/E/G ratio of 0.52 and a beta of 1.69.

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

Analyst Ratings Changes

A number of brokerages have commented on SHLS. The Goldman Sachs Group reduced their target price on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Morgan Stanley upgraded shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 target price on the stock in a report on Tuesday, December 17th. Barclays lowered their price target on Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Wolfe Research started coverage on shares of Shoals Technologies Group in a research report on Tuesday, February 18th. They set a “peer perform” rating for the company. Finally, Jefferies Financial Group dropped their target price on Shoals Technologies Group from $4.60 to $3.40 and set a “hold” rating for the company in a research report on Wednesday, March 12th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $8.87.

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 dated Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total value of $66,619.00. Following the completion of the sale, the chief executive officer now owns 1,051,303 shares in the company, valued at $3,227,500.21. The trade was a 2.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 40,575 shares of company stock valued at $123,957 over the last three months. 1.67% of the stock is currently owned by 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.