RWC Asset Management LLP Invests $1.89 Million in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

RWC Asset Management LLP purchased a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) in the 4th quarter, HoldingsChannel reports. The fund purchased 341,918 shares of the company’s stock, valued at approximately $1,891,000.

Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Shoals Technologies Group by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company’s stock worth $73,533,000 after buying an additional 1,666,691 shares during the last quarter. Point72 Europe London LLP purchased a new position in Shoals Technologies Group in the 3rd quarter worth about $1,461,000. Erste Asset Management GmbH purchased a new position in Shoals Technologies Group in the 3rd quarter worth about $20,191,000. Roubaix Capital LLC purchased a new position in Shoals Technologies Group in the 3rd quarter worth about $2,156,000. Finally, Verition Fund Management LLC raised its position in Shoals Technologies Group by 938.3% in the 3rd quarter. Verition Fund Management LLC now owns 2,251,093 shares of the company’s stock worth $12,629,000 after buying an additional 2,034,291 shares during the last quarter.

Shoals Technologies Group Trading Down 1.5 %

SHLS stock opened at $4.52 on Monday. Shoals Technologies Group, Inc. has a 1-year low of $3.83 and a 1-year high of $16.19. 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 company has a market capitalization of $753.48 million, a price-to-earnings ratio of 22.60, a PEG ratio of 0.52 and a beta of 1.62. The business has a 50 day simple moving average of $4.91 and a two-hundred day simple moving average of $5.19.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SHLS. TD Cowen boosted their target price on Shoals Technologies Group from $9.50 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Truist Financial reduced their price target 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. Piper Sandler reduced their price target on shares of Shoals Technologies Group from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, November 22nd. Mizuho reduced their price target on shares of Shoals Technologies Group from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Finally, Morgan Stanley raised shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 price target for the company in a research report on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.48.

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.