Shoals Technologies Group (NASDAQ:SHLS) Stock Price Down 4.4% - Time to Sell?

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report)'s stock price traded down 4.4% during mid-day trading on Tuesday . The stock traded as low as $3.10 and last traded at $3.18. 758,054 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 5,639,066 shares. The stock had previously closed at $3.32.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on SHLS shares. Roth Mkm cut their price objective on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Morgan Stanley upgraded Shoals Technologies Group from an "equal weight" rating to an "overweight" rating and set a $7.00 price target for the company in a report on Tuesday, December 17th. Piper Sandler lowered their price objective on shares of Shoals Technologies Group from $8.00 to $6.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Jefferies Financial Group cut their target price on shares of Shoals Technologies Group from $4.60 to $3.40 and set a "hold" rating for the company in a research note on Wednesday, March 12th. Finally, Royal Bank of Canada decreased their price target on shares of 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. Three analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $8.87.

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Shoals Technologies Group Stock Performance

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 stock has a market capitalization of $524.36 million, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 0.52 and a beta of 1.54. The stock's 50-day simple moving average is $3.73 and its 200 day simple moving average is $4.70.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its earnings results on Wednesday, February 26th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business had revenue of $107.00 million during the quarter, compared to analyst estimates of $102.16 million. During the same period in the previous year, the firm earned $0.12 earnings per share. The firm's revenue was down 17.9% compared to the same quarter last year. Analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Shoals Technologies Group

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total value of $66,619.00. Following the completion of the sale, the chief executive officer now owns 1,051,303 shares in the company, valued at approximately $3,227,500.21. This trade represents a 2.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders sold 40,575 shares of company stock valued at $123,957 over the last ninety days. 1.67% of the stock is owned by insiders.

Hedge Funds Weigh In On Shoals Technologies Group

A number of large investors have recently modified their holdings of SHLS. FMR LLC lifted its stake 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 during the period. 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 worth $86,000 after buying an additional 2,652 shares during the period. Maven Securities LTD raised its stake in shares of Shoals Technologies Group by 11.1% during the fourth quarter. Maven Securities LTD now owns 50,000 shares of the company's stock worth $276,000 after buying an additional 5,000 shares during the last quarter. Janus Henderson Group PLC lifted 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 buying an additional 6,503 shares during the period. Finally, Barclays PLC boosted its stake in Shoals Technologies Group by 3.3% in the fourth quarter. Barclays PLC now owns 300,910 shares of the company's stock valued at $1,665,000 after acquiring an additional 9,668 shares during the last quarter.

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.