Swedbank AB Takes Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Swedbank AB acquired a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,260,142 shares of the company’s stock, valued at approximately $25,268,000. Swedbank AB owned about 1.33% of Shoals Technologies Group as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. ANTIPODES PARTNERS Ltd bought a new stake in shares of Shoals Technologies Group in the fourth quarter valued at approximately $33,000. Headlands Technologies LLC bought a new position in Shoals Technologies Group in the first quarter worth $92,000. Paloma Partners Management Co bought a new position in Shoals Technologies Group in the first quarter worth $115,000. Harbour Capital Advisors LLC bought a new position in Shoals Technologies Group in the first quarter worth $138,000. Finally, Olympiad Research LP bought a new position in Shoals Technologies Group in the fourth quarter worth $167,000.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SHLS. Barclays reduced their target price on Shoals Technologies Group from $12.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, July 18th. Roth Capital lowered Shoals Technologies Group from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 7th. Royal Bank of Canada dropped their price objective on Shoals Technologies Group from $15.00 to $13.00 and set an “outperform” rating for the company in a research note on Monday, July 8th. Mizuho dropped their price objective on Shoals Technologies Group from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, May 8th. Finally, Northland Capmk lowered Shoals Technologies Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 8th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.06.

Shoals Technologies Group Trading Down 6.9 %

NASDAQ:SHLS opened at $5.80 on Friday. Shoals Technologies Group, Inc. has a fifty-two week low of $5.68 and a fifty-two week high of $25.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.62 and a quick ratio of 1.87. The stock has a market capitalization of $988.44 million, a PE ratio of 32.22 and a beta of 1.76. The business’s 50-day simple moving average is $6.73 and its 200-day simple moving average is $9.84.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, May 7th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $90.81 million for the quarter, compared to analysts’ expectations of $94.44 million. Shoals Technologies Group had a return on equity of 13.95% and a net margin of 6.42%. Sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.44 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.