Hartline Investment Corp Lowers Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Hartline Investment Corp trimmed its holdings in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 9.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,323 shares of the company’s stock after selling 1,470 shares during the quarter. Hartline Investment Corp’s holdings in Shoals Technologies Group were worth $207,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Assetmark Inc. grew its holdings in Shoals Technologies Group by 92.7% during the third quarter. Assetmark Inc. now owns 1,590 shares of the company’s stock valued at $29,000 after purchasing an additional 765 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in Shoals Technologies Group during the fourth quarter valued at $33,000. Exchange Traded Concepts LLC bought a new position in Shoals Technologies Group during the third quarter valued at $48,000. Headlands Technologies LLC boosted its holdings in shares of Shoals Technologies Group by 101.4% in the third quarter. Headlands Technologies LLC now owns 4,459 shares of the company’s stock worth $81,000 after acquiring an additional 2,245 shares during the period. Finally, Trium Capital LLP bought a new position in shares of Shoals Technologies Group in the third quarter worth $93,000.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SHLS. Oppenheimer cut their price target on Shoals Technologies Group from $42.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, February 29th. Mizuho lowered their price target on Shoals Technologies Group from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $24.00 price objective on shares of Shoals Technologies Group in a report on Wednesday, March 13th. Janney Montgomery Scott assumed coverage on Shoals Technologies Group in a report on Friday, January 19th. They set a “buy” rating and a $20.00 price target on the stock. Finally, Royal Bank of Canada cut their price objective on Shoals Technologies Group from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.94.

Shoals Technologies Group Trading Up 0.4 %

Shoals Technologies Group stock traded up $0.03 during midday trading on Wednesday, reaching $8.49. The stock had a trading volume of 2,835,167 shares, compared to its average volume of 3,870,743. The company has a quick ratio of 1.88, a current ratio of 2.45 and a debt-to-equity ratio of 0.33. Shoals Technologies Group, Inc. has a 52-week low of $8.06 and a 52-week high of $28.34. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 33.40 and a beta of 1.79. The company has a fifty day moving average of $12.06 and a 200 day moving average of $13.81.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Wednesday, February 28th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.04). The company had revenue of $130.44 million for the quarter, compared to analysts’ expectations of $131.89 million. Shoals Technologies Group had a return on equity of 16.02% and a net margin of 8.18%. On average, analysts anticipate that Shoals Technologies Group, Inc. will post 0.51 earnings per share for the current fiscal year.

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.