Grandeur Peak Global Advisors LLC Acquires Shares of 57,104 Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Grandeur Peak Global Advisors LLC purchased a new position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 57,104 shares of the company’s stock, valued at approximately $1,986,000.

A number of other institutional investors have also modified their holdings of the stock. Global Retirement Partners LLC acquired a new stake in shares of Shoals Technologies Group in the 1st quarter valued at about $30,000. US Bancorp DE bought a new position in shares of Shoals Technologies Group in the 1st quarter valued at about $32,000. Benjamin F. Edwards & Company Inc. bought a new position in Shoals Technologies Group during the first quarter worth about $38,000. American International Group Inc. bought a new position in Shoals Technologies Group during the first quarter worth about $40,000. Finally, Eaton Vance Management bought a new position in Shoals Technologies Group during the first quarter worth about $82,000. 52.65% of the stock is currently owned by institutional investors and hedge funds.

In other Shoals Technologies Group news, General Counsel Mehgan Peetz sold 11,941 shares of the stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $27.02, for a total transaction of $322,645.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

A number of equities research analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Shoals Technologies Group from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Wednesday, May 26th. Credit Suisse Group upgraded shares of Shoals Technologies Group from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Monday, May 24th. Barclays reiterated an “equal weight” rating and issued a $35.00 price target (down from $49.00) on shares of Shoals Technologies Group in a research report on Wednesday, April 28th. The Goldman Sachs Group upped their price target on shares of Shoals Technologies Group from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Friday, July 2nd. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. upped their price target on shares of Shoals Technologies Group from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $40.08.

Shares of NASDAQ:SHLS traded up $0.18 during midday trading on Thursday, reaching $27.68. The company had a trading volume of 8,794 shares, compared to its average volume of 2,143,163. The stock has a market capitalization of $4.61 billion and a PE ratio of 91.67. Shoals Technologies Group, Inc. has a 52-week low of $20.94 and a 52-week high of $44.04. The stock has a 50 day simple moving average of $29.30.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Sunday, May 2nd. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.01. As a group, research analysts forecast that Shoals Technologies Group, Inc. will post 0.28 earnings per share for the current year.

Shoals Technologies Group Company Profile

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It offers EBOS components, such as cable assemblies, inline fuses, combiners, recombiners, disconnects, wireless monitoring systems, junction boxes, transition enclosures, and splice boxes that carry the electric current produced by solar panels to an inverter and to the power grid.

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Institutional Ownership by Quarter for Shoals Technologies Group (NASDAQ:SHLS)

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