Shoals Technologies Group, Inc. (NASDAQ:SHLS) CFO Sells $20,167.00 in Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) CFO Dominic Bardos sold 4,300 shares of the firm's stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $4.69, for a total transaction of $20,167.00. Following the completion of the sale, the chief financial officer now directly owns 236,109 shares of the company's stock, valued at approximately $1,107,351.21. The trade was a 1.79 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shoals Technologies Group Stock Down 2.4 %

SHLS traded down $0.11 during trading on Friday, hitting $4.53. The stock had a trading volume of 3,391,999 shares, compared to its average volume of 4,969,896. The stock has a 50 day simple moving average of $5.16 and a two-hundred day simple moving average of $5.92. The company has a market capitalization of $755.15 million, a PE ratio of 23.20, a PEG ratio of 0.71 and a beta of 1.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. Shoals Technologies Group, Inc. has a twelve month low of $4.07 and a twelve month high of $17.50.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.02). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business had revenue of $102.20 million during the quarter, compared to analyst estimates of $98.86 million. During the same period in the previous year, the business earned $0.16 EPS. The firm's revenue for the quarter was down 23.8% compared to the same quarter last year. On average, research analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Shoals Technologies Group

A number of large investors have recently modified their holdings of the business. Wellington Management Group LLP raised its position in shares of Shoals Technologies Group by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company's stock valued at $73,533,000 after purchasing an additional 1,666,691 shares during the last quarter. Point72 Asset Management L.P. increased its stake in Shoals Technologies Group by 460.1% during the 3rd quarter. Point72 Asset Management L.P. now owns 6,844,222 shares of the company's stock valued at $38,396,000 after purchasing an additional 5,622,207 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Shoals Technologies Group by 16.1% during the third quarter. Franklin Resources Inc. now owns 4,748,673 shares of the company's stock worth $24,836,000 after buying an additional 658,617 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Shoals Technologies Group during the third quarter valued at $20,191,000. Finally, Millennium Management LLC increased its position in shares of Shoals Technologies Group by 262.8% in the 2nd quarter. Millennium Management LLC now owns 3,371,593 shares of the company's stock valued at $21,039,000 after acquiring an additional 2,442,227 shares during the period.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. 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. Citigroup upgraded Shoals Technologies Group from a "sell" rating to a "neutral" rating and lifted their target price for the stock from $5.00 to $5.50 in a research report on Thursday, October 3rd. Morgan Stanley reduced their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research note on Friday, November 15th. Jefferies Financial Group initiated coverage on shares of Shoals Technologies Group in a research report on Wednesday, September 4th. They issued a "hold" rating and a $5.00 price objective for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $12.00 target price on shares of Shoals Technologies Group in a research report on Tuesday, September 17th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $11.31.

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.

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