RWC Asset Management LLP Buys New Position in Shoals Technologies Group, Inc. (NASDAQ:SHLS)

RWC Asset Management LLP bought a new stake in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 341,918 shares of the company’s stock, valued at approximately $1,891,000. RWC Asset Management LLP owned approximately 0.21% of Shoals Technologies Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC raised its stake in shares of Shoals Technologies Group by 48.9% during the third quarter. FMR LLC now owns 5,806 shares of the company’s stock worth $33,000 after acquiring an additional 1,906 shares in the last quarter. Empirical Asset Management LLC purchased a new position in shares of Shoals Technologies Group during the fourth quarter worth approximately $59,000. TrinityPoint Wealth LLC purchased a new position in shares of Shoals Technologies Group during the third quarter worth approximately $60,000. GSA Capital Partners LLP purchased a new position in shares of Shoals Technologies Group during the third quarter worth approximately $104,000. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Shoals Technologies Group during the fourth quarter worth approximately $110,000.

Wall Street Analyst Weigh In

SHLS has been the topic of several research reports. The Goldman Sachs Group decreased their price target on shares of Shoals Technologies Group from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 22nd. Morgan Stanley raised shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 price target on the stock in a research note on Tuesday, December 17th. Guggenheim decreased their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, November 21st. Truist Financial decreased their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.48.

Shoals Technologies Group Stock Performance

Shares of SHLS stock opened at $4.52 on Monday. Shoals Technologies Group, Inc. has a 12 month low of $3.83 and a 12 month high of $16.19. The stock has a market cap of $753.48 million, a PE ratio of 22.60, a price-to-earnings-growth ratio of 0.52 and a beta of 1.62. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The company’s fifty day moving average price is $4.91 and its 200-day moving average price is $5.19.

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.