Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Brandon Moss Sells 21,700 Shares

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) CEO Brandon Moss sold 21,700 shares of the company'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 directly owns 1,051,303 shares in the company, valued at approximately $3,227,500.21. This trade represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shoals Technologies Group Stock Performance

SHLS traded up $0.02 on Monday, reaching $2.84. The company had a trading volume of 6,216,186 shares, compared to its average volume of 5,489,454. The stock has a 50-day moving average price of $4.58 and a 200-day moving average price of $5.05. The stock has a market capitalization of $473.43 million, a PE ratio of 14.20, a P/E/G ratio of 0.52 and a beta of 1.69. Shoals Technologies Group, Inc. has a 1 year low of $2.77 and a 1 year high of $13.44. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26.

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 analysts' consensus estimates of $0.09 by ($0.01). The business had revenue of $107.00 million during the quarter, compared to analysts' expectations of $102.16 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.12 earnings per share. As a group, research analysts forecast that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

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Analysts Set New Price Targets

SHLS has been the topic of a number of analyst reports. Guggenheim decreased their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Thursday, November 21st. The Goldman Sachs Group lowered their price target 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. JPMorgan Chase & Co. decreased their price target on shares of Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Royal Bank of Canada dropped their price target on Shoals Technologies Group from $9.00 to $7.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Finally, Wolfe Research started coverage on Shoals Technologies Group in a research report on Tuesday, February 18th. They issued a "peer perform" rating for the company. Three investment 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. According to data from MarketBeat.com, Shoals Technologies Group presently has a consensus rating of "Hold" and an average target price of $8.95.

Institutional Investors Weigh In On Shoals Technologies Group

Several hedge funds have recently modified their holdings of SHLS. FMR LLC boosted its position in 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. Empirical Asset Management LLC acquired a new position in Shoals Technologies Group during the 4th quarter valued at approximately $59,000. TrinityPoint Wealth LLC bought a new stake in Shoals Technologies Group in the 3rd quarter valued at about $60,000. American Trust acquired a new position in shares of Shoals Technologies Group during the fourth quarter valued at $72,000. Finally, 49 Wealth Management LLC acquired a new position in shares of Shoals Technologies Group during the fourth quarter valued at approximately $74,000.

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.