Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Shoals Technologies Group, Inc. (NASDAQ:SHLS – Free Report) by 15.9% during the 1st quarter, HoldingsChannel reports. The firm owned 436,340 shares of the company’s stock after buying an additional 59,967 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Shoals Technologies Group were worth $4,878,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of SHLS. ANTIPODES PARTNERS Ltd purchased a new position in shares of Shoals Technologies Group in the 4th quarter worth $33,000. Headlands Technologies LLC bought a new position in shares of Shoals Technologies Group in the 1st quarter valued at about $92,000. Olympiad Research LP purchased a new position in Shoals Technologies Group in the fourth quarter worth about $167,000. PNC Financial Services Group Inc. increased its stake in Shoals Technologies Group by 14.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 11,633 shares of the company’s stock worth $181,000 after acquiring an additional 1,429 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in Shoals Technologies Group during the first quarter valued at approximately $138,000.
Shoals Technologies Group Stock Performance
Shares of SHLS stock opened at $6.74 on Friday. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 37.45 and a beta of 1.76. Shoals Technologies Group, Inc. has a 52-week low of $5.69 and a 52-week high of $27.86. The company has a quick ratio of 1.87, a current ratio of 2.62 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $6.83 and its 200 day moving average is $10.15.
Wall Street Analyst Weigh In
SHLS has been the subject of a number of recent research reports. Citigroup cut Shoals Technologies Group from a “buy” rating to a “sell” rating and dropped their target price for the stock from $15.00 to $5.00 in a report on Tuesday, July 2nd. Piper Sandler dropped their price objective on shares of Shoals Technologies Group from $14.00 to $11.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. JPMorgan Chase & Co. increased their target price on shares of Shoals Technologies Group from $21.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Mizuho cut their price target on shares of Shoals Technologies Group from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Finally, UBS Group reduced their price objective on shares of Shoals Technologies Group from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Shoals Technologies Group has an average rating of “Hold” and an average target price of $15.06.
Check Out Our Latest Stock Report on Shoals Technologies Group
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.
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