Oddo BHF Asset Management Sas Invests $692,000 in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Oddo BHF Asset Management Sas acquired a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 123,424 shares of the company’s stock, valued at approximately $692,000. Oddo BHF Asset Management Sas owned 0.07% of Shoals Technologies Group as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. raised its position in shares of Shoals Technologies Group by 16.1% in the 3rd quarter. Franklin Resources Inc. now owns 4,748,673 shares of the company’s stock worth $24,836,000 after acquiring an additional 658,617 shares in the last quarter. Barclays PLC grew its stake in Shoals Technologies Group by 25.9% in the third quarter. Barclays PLC now owns 291,242 shares of the company’s stock valued at $1,634,000 after purchasing an additional 59,856 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Shoals Technologies Group by 33.6% in the third quarter. Y Intercept Hong Kong Ltd now owns 147,187 shares of the company’s stock worth $826,000 after purchasing an additional 37,008 shares in the last quarter. XTX Topco Ltd lifted its position in shares of Shoals Technologies Group by 346.6% during the third quarter. XTX Topco Ltd now owns 135,104 shares of the company’s stock valued at $758,000 after buying an additional 104,850 shares during the last quarter. Finally, Yaupon Capital Management LP bought a new stake in shares of Shoals Technologies Group in the 3rd quarter valued at about $8,585,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SHLS shares. Cantor Fitzgerald reissued an “overweight” rating and set a $12.00 target price on shares of Shoals Technologies Group in a research report on Tuesday, September 17th. Truist Financial lowered their price objective on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Morgan Stanley reduced their target price on Shoals Technologies Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Piper Sandler lowered their price target on Shoals Technologies Group from $10.00 to $8.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Roth Mkm cut their price objective 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. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Shoals Technologies Group presently has a consensus rating of “Hold” and a consensus target price of $11.31.

Shoals Technologies Group Price Performance

Shoals Technologies Group stock opened at $4.41 on Friday. The business’s 50-day moving average price is $5.06 and its 200 day moving average price is $5.79. 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 market cap of $735.14 million, a price-to-earnings ratio of 22.05, a price-to-earnings-growth ratio of 0.66 and a beta of 1.69. Shoals Technologies Group, Inc. has a 52 week low of $4.07 and a 52 week high of $17.50.

Shoals Technologies Group (NASDAQ:SHLS) last posted its 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 net margin of 7.78% and a return on equity of 9.83%. The firm had revenue of $102.20 million for the quarter, compared to analysts’ expectations of $98.86 million. During the same period last year, the firm earned $0.16 earnings per share. Shoals Technologies Group’s revenue for the quarter was down 23.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Insiders Place Their Bets

In other Shoals Technologies Group news, CEO Brandon Moss purchased 22,300 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average price of $4.55 per share, for a total transaction of $101,465.00. Following the purchase, the chief executive officer now directly owns 593,700 shares in the company, valued at approximately $2,701,335. This trade represents a 3.90 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 8,920 shares of company stock worth $45,863. Company insiders own 1.67% of the company’s stock.

About Shoals Technologies Group

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.