Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Sells $66,619.00 in Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Brandon Moss sold 21,700 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total value of $66,619.00. Following the transaction, the chief executive officer now owns 1,051,303 shares of the company’s stock, valued at $3,227,500.21. This trade represents a 2.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shoals Technologies Group Stock Down 6.3 %

Shares of SHLS opened at $2.82 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. Shoals Technologies Group, Inc. has a 12 month low of $2.77 and a 12 month high of $13.44. The firm’s 50 day moving average is $4.63 and its 200-day moving average is $5.07. The stock has a market capitalization of $470.09 million, a PE ratio of 14.10, a P/E/G ratio of 0.52 and a beta of 1.69.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $107.00 million during the quarter, compared to analyst estimates of $102.16 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. Shoals Technologies Group’s revenue was down 17.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 earnings per share. Equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. The Goldman Sachs Group decreased their price target 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 Wednesday, February 26th. JPMorgan Chase & Co. lowered 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 report on Thursday, January 23rd. Roth Mkm cut their price target on shares of Shoals Technologies Group from $5.00 to $4.50 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Bank of America started coverage on shares of Shoals Technologies Group in a research report on Monday, November 25th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Wolfe Research initiated coverage on shares of Shoals Technologies Group in a research note on Tuesday, February 18th. They issued a “peer perform” rating for the company. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Shoals Technologies Group currently has an average rating of “Hold” and a consensus price target of $8.95.

Institutional Investors Weigh In On Shoals Technologies Group

Several institutional investors and hedge funds have recently bought and sold shares of SHLS. American Trust bought a new position in Shoals Technologies Group in the 4th quarter valued at about $72,000. 49 Wealth Management LLC acquired a new stake in shares of Shoals Technologies Group during the 4th quarter worth approximately $74,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Shoals Technologies Group by 13.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 478,524 shares of the company’s stock valued at $2,646,000 after acquiring an additional 56,176 shares during the last quarter. Two Sigma Investments LP raised its position in Shoals Technologies Group by 40.6% during the fourth quarter. Two Sigma Investments LP now owns 657,589 shares of the company’s stock valued at $3,636,000 after purchasing an additional 189,754 shares in the last quarter. Finally, State of Wyoming lifted its stake in Shoals Technologies Group by 250.7% during the fourth quarter. State of Wyoming now owns 15,117 shares of the company’s stock worth $84,000 after purchasing an additional 10,806 shares during the last quarter.

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.