Dominic Bardos Sells 7,450 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) CFO Dominic Bardos sold 7,450 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3.09, for a total value of $23,020.50. Following the completion of the sale, the chief financial officer now directly owns 383,217 shares of the company's stock, valued at $1,184,140.53. The trade was a 1.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shoals Technologies Group Stock Up 0.7 %

Shares of Shoals Technologies Group stock traded up $0.02 during trading on Monday, reaching $2.84. The company's stock had a trading volume of 6,216,186 shares, compared to its average volume of 5,489,454. Shoals Technologies Group, Inc. has a 1-year low of $2.77 and a 1-year high of $13.44. The company has a 50-day simple moving average of $4.58 and a two-hundred day simple moving average of $5.05. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. The company has a market cap of $473.43 million, a price-to-earnings ratio of 14.20, a P/E/G ratio of 0.52 and a beta of 1.69.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings results 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). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm had revenue of $107.00 million for the quarter, compared to analysts' expectations of $102.16 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The firm's revenue for the quarter was down 17.9% compared to the same quarter last year. As a group, equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

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Analysts Set New Price Targets

SHLS has been the topic of several recent research reports. Morgan Stanley upgraded Shoals Technologies Group from an "equal weight" rating to an "overweight" rating and set a $7.00 price target on the stock in a report on Tuesday, December 17th. The Goldman Sachs Group lowered their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. 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 report on Tuesday, January 28th. JPMorgan Chase & Co. cut their target price on 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. Finally, TD Cowen raised their price target on Shoals Technologies Group from $9.50 to $11.00 and gave the stock a "buy" rating in a research note on Wednesday, November 13th. Three research 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $8.95.

Institutional Investors Weigh In On Shoals Technologies Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake 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 purchasing an additional 1,906 shares during the period. Van ECK Associates Corp boosted its stake in shares of Shoals Technologies Group by 1.9% during the 3rd 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 in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Shoals Technologies Group by 20.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 15,525 shares of the company's stock valued at $86,000 after acquiring an additional 2,652 shares during the period. Maven Securities LTD increased its stake in shares of Shoals Technologies Group by 11.1% in the 4th quarter. Maven Securities LTD now owns 50,000 shares of the company's stock valued at $276,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Shoals Technologies Group by 2.3% in the third quarter. Janus Henderson Group PLC now owns 294,598 shares of the company's stock valued at $1,653,000 after purchasing an additional 6,503 shares during the period.

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.