Handelsbanken Fonder AB Sells 532,980 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS)

Handelsbanken Fonder AB lessened its stake in shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 19.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,178,623 shares of the company’s stock after selling 532,980 shares during the quarter. Handelsbanken Fonder AB owned approximately 1.31% of Shoals Technologies Group worth $12,048,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC grew its position in shares of Shoals Technologies Group by 48.9% in the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock valued at $33,000 after buying an additional 1,906 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Shoals Technologies Group by 1.9% in the third quarter. Van ECK Associates Corp now owns 131,808 shares of the company’s stock worth $739,000 after acquiring an additional 2,517 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Shoals Technologies Group by 2.3% in the third quarter. Janus Henderson Group PLC now owns 294,598 shares of the company’s stock worth $1,653,000 after acquiring an additional 6,503 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Shoals Technologies Group by 1.6% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 551,055 shares of the company’s stock valued at $3,091,000 after acquiring an additional 8,918 shares during the last quarter. Finally, Empirical Asset Management LLC acquired a new stake in Shoals Technologies Group during the 4th quarter valued at approximately $59,000.

Analysts Set New Price Targets

SHLS has been the topic of a number of recent analyst reports. Barclays dropped their price target on shares of Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Oppenheimer cut their price target on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 28th. Piper Sandler lowered their price objective on 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. Guggenheim cut their target price on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Finally, TD Cowen lifted their target price on Shoals Technologies Group from $9.50 to $11.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.48.

Shoals Technologies Group Trading Down 1.5 %

NASDAQ:SHLS opened at $4.52 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. Shoals Technologies Group, Inc. has a one year low of $3.83 and a one year high of $16.19. The company has a market cap of $753.48 million, a PE ratio of 22.60, a PEG ratio of 0.52 and a beta of 1.62. The firm has a 50-day moving average of $4.91 and a 200-day moving average of $5.19.

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.