Roubaix Capital LLC Makes New Investment in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Roubaix Capital LLC acquired a new stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 384,306 shares of the company’s stock, valued at approximately $2,156,000. Roubaix Capital LLC owned 0.23% of Shoals Technologies Group at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SHLS. ANTIPODES PARTNERS Ltd grew its stake in Shoals Technologies Group by 122.4% in the first quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock valued at $54,000 after acquiring an additional 2,638 shares during the period. Headlands Technologies LLC bought a new stake in Shoals Technologies Group during the 1st quarter valued at $92,000. 1620 Investment Advisors Inc. acquired a new position in Shoals Technologies Group during the second quarter worth $54,000. Mackenzie Financial Corp acquired a new position in shares of Shoals Technologies Group during the second quarter valued at about $64,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Shoals Technologies Group in the 1st quarter worth about $115,000.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Oppenheimer decreased their price objective on Shoals Technologies Group from $14.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Truist Financial lowered their price target 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. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $12.00 price objective on shares of Shoals Technologies Group in a report on Tuesday, September 17th. Northland Securities lowered their target price on shares of Shoals Technologies Group from $6.00 to $4.00 and set an “underperform” rating for the company in a report on Thursday, August 8th. Finally, Jefferies Financial Group started coverage on shares of Shoals Technologies Group in a research report on Wednesday, September 4th. They set a “hold” rating and a $5.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.55.

Shoals Technologies Group Stock Up 0.6 %

Shares of NASDAQ SHLS opened at $5.27 on Thursday. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.27. The company has a market cap of $878.22 million, a P/E ratio of 37.64, a P/E/G ratio of 0.74 and a beta of 1.74. Shoals Technologies Group, Inc. has a 52 week low of $4.85 and a 52 week high of $17.50. The business has a 50-day simple moving average of $5.55 and a two-hundred day simple moving average of $6.44.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.13% and a return on equity of 12.75%. The company had revenue of $99.25 million during the quarter, compared to analyst estimates of $90.57 million. During the same period last year, the business earned $0.12 earnings per share. Shoals Technologies Group’s revenue was down 16.7% compared to the same quarter last year. Research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

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.