Y Intercept Hong Kong Ltd Has $826,000 Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Y Intercept Hong Kong Ltd grew its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 33.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,187 shares of the company’s stock after buying an additional 37,008 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.09% of Shoals Technologies Group worth $826,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 purchasing an additional 104,850 shares in the last quarter. Yaupon Capital Management LP bought a new position in shares of Shoals Technologies Group during the 3rd quarter worth approximately $8,585,000. Wellington Management Group LLP lifted its position in shares of Shoals Technologies Group by 14.6% during the 3rd quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company’s stock worth $73,533,000 after buying an additional 1,666,691 shares in the last quarter. Redwood Grove Capital LLC boosted its stake in shares of Shoals Technologies Group by 6.7% in the 3rd quarter. Redwood Grove Capital LLC now owns 1,820,900 shares of the company’s stock worth $10,215,000 after buying an additional 115,000 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Shoals Technologies Group by 460.1% in the third quarter. Point72 Asset Management L.P. now owns 6,844,222 shares of the company’s stock valued at $38,396,000 after acquiring an additional 5,622,207 shares in the last quarter.

Insider Buying and Selling at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss purchased 22,300 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were acquired at an average cost of $4.55 per share, for a total transaction of $101,465.00. Following the completion of the transaction, the chief executive officer now owns 593,700 shares of the company’s stock, valued at approximately $2,701,335. The trade was a 3.90 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 8,920 shares of company stock worth $45,863. Insiders own 1.67% of the company’s stock.

Shoals Technologies Group Price Performance

NASDAQ SHLS opened at $4.41 on Friday. Shoals Technologies Group, Inc. has a one year low of $4.07 and a one year high of $17.50. The stock has a 50-day moving average of $5.06 and a 200 day moving average of $5.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. The company has a market capitalization of $735.14 million, a price-to-earnings ratio of 22.05, a PEG ratio of 0.66 and a beta of 1.69.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data 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 company had revenue of $102.20 million for the quarter, compared to analysts’ expectations of $98.86 million. During the same period in the previous year, the firm earned $0.16 earnings per share. The firm’s revenue for the quarter was down 23.8% on a year-over-year basis. On average, sell-side analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Citigroup raised Shoals Technologies Group from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $5.00 to $5.50 in a research report on Thursday, October 3rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $12.00 price target on shares of Shoals Technologies Group in a research note on Tuesday, September 17th. Roth Mkm lowered their price objective on Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. Truist Financial cut their target price on shares of 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. Finally, Morgan Stanley lowered their price target on shares of 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. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.31.

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.