Handelsbanken Fonder AB Decreases Stock Holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Handelsbanken Fonder AB lowered its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 19.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,178,623 shares of the company’s stock after selling 532,980 shares during the period. Handelsbanken Fonder AB’s holdings in Shoals Technologies Group were worth $12,048,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC raised its holdings in shares of Shoals Technologies Group by 48.9% in the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock worth $33,000 after purchasing an additional 1,906 shares during the period. Empirical Asset Management LLC bought a new position in Shoals Technologies Group during the fourth quarter valued at $59,000. TrinityPoint Wealth LLC purchased a new stake in Shoals Technologies Group in the third quarter worth $60,000. GSA Capital Partners LLP bought a new stake in shares of Shoals Technologies Group in the third quarter valued at $104,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Shoals Technologies Group during the 4th quarter valued at $110,000.

Shoals Technologies Group Trading Down 1.5 %

Shares of SHLS opened at $4.52 on Friday. Shoals Technologies Group, Inc. has a 1-year low of $3.83 and a 1-year high of $16.19. The company has a market capitalization of $753.48 million, a P/E ratio of 22.60, a P/E/G ratio of 0.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. The firm’s 50 day simple moving average is $4.91 and its 200 day simple moving average is $5.19.

Analyst Ratings Changes

Several brokerages recently weighed in on SHLS. Piper Sandler decreased their price objective 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. The Goldman Sachs Group reduced their target price on shares of Shoals Technologies Group from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Guggenheim dropped their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. JPMorgan Chase & Co. reduced their price objective on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Thursday, January 23rd. Finally, Wolfe Research assumed coverage on Shoals Technologies Group in a research report on Tuesday, February 18th. They set a “peer perform” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.48.

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.