Shoals Technologies Group Target of Unusually Large Options Trading (NASDAQ:SHLS)

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) saw unusually large options trading activity on Friday. Traders acquired 26,573 call options on the company. This represents an increase of approximately 1,471% compared to the average volume of 1,692 call options.

Shoals Technologies Group Price Performance

Shares of NASDAQ SHLS traded up $0.09 during trading hours on Monday, reaching $3.73. 5,465,274 shares of the stock traded hands, compared to its average volume of 5,778,371. The company has a market capitalization of $622.89 million, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 0.52 and a beta of 1.54. 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 has a 52-week low of $2.71 and a 52-week high of $9.17. The company's 50-day simple moving average is $3.38 and its two-hundred day simple moving average is $4.42.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SHLS. JPMorgan Chase & Co. reduced their target price on shares of Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating for the company in a research report on Thursday, January 23rd. Mizuho reduced their target price on shares of Shoals Technologies Group from $7.00 to $6.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. The Goldman Sachs Group cut their price objective 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. Jefferies Financial Group cut their price objective on shares of Shoals Technologies Group from $4.60 to $3.40 and set a "hold" rating for the company in a report on Wednesday, March 12th. Finally, Roth Mkm cut their price objective on shares of Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating for the company in a report on Wednesday, February 26th. Three investment 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $8.87.

Insider Buying and Selling

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of the 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 filing with the SEC, which is accessible through the SEC website. Insiders have sold 40,575 shares of company stock worth $123,957 in the last quarter. Insiders own 1.67% of the company's stock.

Hedge Funds Weigh In On Shoals Technologies Group

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Shoals Technologies Group by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 17,163,583 shares of the company's stock worth $94,915,000 after purchasing an additional 576,736 shares during the period. Wellington Management Group LLP increased its stake in shares of Shoals Technologies Group by 8.6% during the fourth quarter. Wellington Management Group LLP now owns 14,233,342 shares of the company's stock valued at $78,710,000 after buying an additional 1,125,938 shares during the period. Invesco Ltd. increased its stake in shares of Shoals Technologies Group by 20.7% during the fourth quarter. Invesco Ltd. now owns 6,415,911 shares of the company's stock valued at $35,480,000 after buying an additional 1,098,577 shares during the period. Encompass Capital Advisors LLC increased its stake in shares of Shoals Technologies Group by 14.5% during the fourth quarter. Encompass Capital Advisors LLC now owns 5,410,245 shares of the company's stock valued at $29,919,000 after buying an additional 683,642 shares during the period. Finally, Franklin Resources Inc. increased 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 valued at $24,836,000 after buying an additional 658,617 shares during the period.

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.