Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Purchases $101,465.00 in Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Brandon Moss purchased 22,300 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were purchased at an average cost of $4.55 per share, for a total transaction of $101,465.00. Following the completion of the transaction, the chief executive officer now directly owns 593,700 shares of the company’s stock, valued at approximately $2,701,335. This represents a 3.90 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shoals Technologies Group Price Performance

Shares of Shoals Technologies Group stock traded up $0.04 during trading hours on Thursday, reaching $4.45. The company’s stock had a trading volume of 2,953,762 shares, compared to its average volume of 4,993,994. The stock has a market cap of $741.59 million, a P/E ratio of 22.30, a P/E/G ratio of 0.61 and a beta of 1.73. Shoals Technologies Group, Inc. has a one year low of $4.07 and a one year high of $17.50. The firm has a 50 day moving average price of $5.43 and a 200-day moving average price of $6.10. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36.

Shoals Technologies Group (NASDAQ:SHLS) last announced 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). The company had revenue of $102.20 million for the quarter, compared to analysts’ expectations of $98.86 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. Shoals Technologies Group’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same period last year, the firm earned $0.16 earnings per share. On average, analysts predict that Shoals Technologies Group, Inc. will post 0.28 EPS for the current year.

Analysts Set New Price Targets

SHLS has been the subject of several research analyst reports. UBS Group reduced their target price on Shoals Technologies Group from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Roth Capital lowered Shoals Technologies Group from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 7th. Roth Mkm decreased their price objective on Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. Barclays reduced their target price on shares of Shoals Technologies Group from $7.00 to $5.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $11.68.

Institutional Trading of Shoals Technologies Group

Hedge funds have recently modified their holdings of the business. Barclays PLC lifted its holdings in shares of Shoals Technologies Group by 25.9% during the 3rd quarter. Barclays PLC now owns 291,242 shares of the company’s stock valued at $1,634,000 after acquiring an additional 59,856 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Shoals Technologies Group by 33.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 147,187 shares of the company’s stock worth $826,000 after acquiring an additional 37,008 shares in the last quarter. XTX Topco Ltd boosted its position in shares of Shoals Technologies Group by 346.6% in the third quarter. XTX Topco Ltd now owns 135,104 shares of the company’s stock worth $758,000 after buying an additional 104,850 shares during the period. Yaupon Capital Management LP purchased a new stake in shares of Shoals Technologies Group during the third quarter worth $8,585,000. Finally, Wellington Management Group LLP increased its position in Shoals Technologies Group by 14.6% during the third quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company’s stock worth $73,533,000 after buying an additional 1,666,691 shares during the last quarter.

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.