Insider Selling: Shoals Technologies Group, Inc. (NASDAQ:SHLS) President Sells 2,110 Shares of Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS) President Jeffery Tolnar sold 2,110 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $6.34, for a total value of $13,377.40. Following the sale, the president now owns 125,761 shares in the company, valued at approximately $797,324.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shoals Technologies Group Stock Up 0.5 %

Shares of NASDAQ:SHLS traded up $0.03 during mid-day trading on Wednesday, hitting $6.49. 2,761,601 shares of the company traded hands, compared to its average volume of 5,035,323. The stock has a market cap of $1.08 billion, a P/E ratio of 35.11, a P/E/G ratio of 0.93 and a beta of 1.74. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.27. Shoals Technologies Group, Inc. has a 12-month low of $4.88 and a 12-month high of $21.22. The stock has a 50-day moving average price of $5.95 and a two-hundred day moving average price of $7.75.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $99.25 million during the quarter, compared to analysts’ expectations of $90.57 million. Shoals Technologies Group had a return on equity of 12.75% and a net margin of 5.13%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 EPS. On average, equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

Institutional investors have recently bought and sold shares of the stock. ANTIPODES PARTNERS Ltd raised its stake in shares of Shoals Technologies Group by 122.4% during the first quarter. ANTIPODES PARTNERS Ltd now owns 4,793 shares of the company’s stock valued at $54,000 after acquiring an additional 2,638 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Shoals Technologies Group during the 1st quarter worth about $92,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Shoals Technologies Group in the 2nd quarter valued at approximately $54,000. Mackenzie Financial Corp purchased a new position in shares of Shoals Technologies Group during the 2nd quarter worth approximately $64,000. Finally, Paloma Partners Management Co purchased a new position in Shoals Technologies Group in the 1st quarter valued at approximately $115,000.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SHLS shares. Roth Mkm cut their target price on Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. JPMorgan Chase & Co. cut their target price on shares of Shoals Technologies Group from $23.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. UBS Group cut their price objective on shares of Shoals Technologies Group from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $12.00 price target on shares of Shoals Technologies Group in a research note on Tuesday. Finally, Piper Sandler increased their price objective on shares of Shoals Technologies Group from $8.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.06.

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.