XTX Topco Ltd Sells 92,175 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

XTX Topco Ltd reduced its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 68.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 42,929 shares of the company’s stock after selling 92,175 shares during the quarter. XTX Topco Ltd’s holdings in Shoals Technologies Group were worth $237,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its position in shares of Shoals Technologies Group by 3.3% during the 4th quarter. Barclays PLC now owns 300,910 shares of the company’s stock worth $1,665,000 after acquiring an additional 9,668 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in shares of Shoals Technologies Group in the 4th quarter valued at $59,000. Federated Hermes Inc. increased its stake in shares of Shoals Technologies Group by 0.8% in the 4th quarter. Federated Hermes Inc. now owns 1,693,684 shares of the company’s stock valued at $9,366,000 after purchasing an additional 14,159 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of Shoals Technologies Group during the 4th quarter worth $87,000. Finally, Versor Investments LP bought a new stake in shares of Shoals Technologies Group during the 4th quarter worth $91,000.

Insider Activity

In related news, CEO Brandon Moss sold 21,700 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total transaction of $66,619.00. Following the transaction, the chief executive officer now directly owns 1,051,303 shares of the company’s stock, valued at $3,227,500.21. This represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 40,575 shares of company stock worth $123,957 in the last quarter. 1.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on SHLS shares. Royal Bank of Canada decreased their target price on Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. Truist Financial lowered their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Oppenheimer cut their target price on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Wolfe Research initiated coverage on Shoals Technologies Group in a research note on Tuesday, February 18th. They issued a “peer perform” rating for the company. Finally, Jefferies Financial Group cut their price objective on Shoals Technologies Group from $4.60 to $3.40 and set a “hold” rating on the stock in a report on Wednesday, March 12th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $8.87.

Shoals Technologies Group Price Performance

SHLS stock opened at $3.64 on Friday. 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 $607.86 million, a price-to-earnings ratio of 18.20, a PEG ratio of 0.52 and a beta of 1.54. The company’s fifty day simple moving average is $3.39 and its 200 day simple moving average is $4.44. Shoals Technologies Group, Inc. has a 12-month low of $2.71 and a 12-month high of $9.17.

Shoals Technologies Group (NASDAQ:SHLS) last announced its earnings results on Wednesday, February 26th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $107.00 million for the quarter, compared to the consensus estimate of $102.16 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.12 EPS. On average, analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current 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.