Shoals Technologies Group, Inc. (NASDAQ:SHLS) President Jeffery Tolnar Sells 5,800 Shares

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) President Jeffery Tolnar sold 5,800 shares of the business'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 $17,806.00. Following the completion of the transaction, the president now directly owns 256,126 shares in the company, valued at $786,306.82. The trade was a 2.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shoals Technologies Group Price Performance

SHLS stock traded up $0.02 during midday trading on Monday, reaching $2.84. 6,216,186 shares of the stock were exchanged, compared to its average volume of 5,489,454. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. 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 52 week low of $2.77 and a 52 week high of $13.44. The company has a fifty day moving average price of $4.58 and a 200 day moving average price of $5.05.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $107.00 million during the quarter, compared to the consensus estimate of $102.16 million. During the same quarter last year, the business earned $0.12 EPS. The firm's quarterly revenue was down 17.9% compared to the same quarter last year. As a group, analysts expect that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Remove Ads

Wall Street Analyst Weigh In

SHLS has been the topic of several research reports. Piper Sandler reduced their price objective on Shoals Technologies Group from $8.00 to $6.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Barclays lowered their price target on shares of Shoals Technologies Group from $5.00 to $4.00 and set an "equal weight" rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. reduced their price objective on shares of 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. Wolfe Research assumed coverage on shares of Shoals Technologies Group in a research report on Tuesday, February 18th. They set a "peer perform" rating for the company. Finally, Roth Mkm reduced their price target on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Three equities 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $8.95.

Institutional Investors Weigh In On Shoals Technologies Group

A number of large investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of Shoals Technologies Group by 48.9% during the third quarter. FMR LLC now owns 5,806 shares of the company's stock valued at $33,000 after acquiring an additional 1,906 shares in the last quarter. Empirical Asset Management LLC bought a new stake in Shoals Technologies Group during the 4th quarter valued at $59,000. TrinityPoint Wealth LLC acquired a new position in Shoals Technologies Group during the third quarter worth $60,000. American Trust bought a new position in shares of Shoals Technologies Group in 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 about $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.