Kayne Anderson Rudnick Investment Management LLC lessened its stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS – Free Report) by 50.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,478 shares of the company’s stock after selling 20,478 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Shoals Technologies Group were worth $128,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. ANTIPODES PARTNERS Ltd grew its position 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 buying an additional 2,638 shares during the period. Headlands Technologies LLC acquired a new stake in Shoals Technologies Group during the 1st quarter worth $92,000. 1620 Investment Advisors Inc. bought a new stake in shares of Shoals Technologies Group during the 2nd quarter valued at $54,000. Paloma Partners Management Co acquired a new position in shares of Shoals Technologies Group in the 1st quarter valued at $115,000. Finally, Olympiad Research LP acquired a new position in shares of Shoals Technologies Group in the 4th quarter valued at $167,000.
Shoals Technologies Group Price Performance
Shares of SHLS opened at $6.40 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.27. Shoals Technologies Group, Inc. has a twelve month low of $4.88 and a twelve month high of $20.63. The stock has a market capitalization of $1.09 billion, a P/E ratio of 35.56, a P/E/G ratio of 0.91 and a beta of 1.74. The company has a 50 day moving average of $5.93 and a 200-day moving average of $7.61.
Wall Street Analysts Forecast Growth
SHLS has been the subject of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $11.00 price objective on shares of Shoals Technologies Group in a report on Friday, September 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $12.00 price target on shares of Shoals Technologies Group in a research note on Tuesday, September 17th. Piper Sandler lifted their price objective 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. Oppenheimer lowered their target price on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, UBS Group reduced their price target on shares of Shoals Technologies Group from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Shoals Technologies Group has a consensus rating of “Hold” and an average target price of $11.06.
Check Out Our Latest Stock Analysis on SHLS
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.
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