Shoals Technologies Group (NASDAQ:SHLS) Insider Sells $104,100.00 in Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS) insider Bobbie Lee King, Jr. sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.41, for a total value of $104,100.00. Following the sale, the insider owned 98,918 shares of the company’s stock, valued at approximately $1,029,736.38. The trade was a 9.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shoals Technologies Group Trading Down 3.3%

Shares of SHLS stock traded down $0.34 on Tuesday, reaching $9.96. 4,178,278 shares of the stock were exchanged, compared to its average volume of 5,053,029. The stock has a market cap of $1.67 billion, a PE ratio of 49.80, a P/E/G ratio of 1.25 and a beta of 1.90. Shoals Technologies Group, Inc. has a one year low of $3.99 and a one year high of $13.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.07. The stock has a 50 day moving average price of $9.07 and a 200 day moving average price of $8.56.

Shoals Technologies Group (NASDAQ:SHLS) last released its earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The company had revenue of $140.56 million during the quarter, compared to the consensus estimate of $129.16 million. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The business’s revenue was up 74.4% on a year-over-year basis. Equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Shoals Technologies Group by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 13,594,139 shares of the company’s stock valued at $115,550,000 after acquiring an additional 404,133 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Shoals Technologies Group by 151.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,753,784 shares of the company’s stock valued at $108,410,000 after acquiring an additional 7,685,515 shares during the period. First Trust Advisors LP grew its stake in Shoals Technologies Group by 15.4% in the first quarter. First Trust Advisors LP now owns 7,304,064 shares of the company’s stock valued at $48,061,000 after acquiring an additional 972,382 shares during the period. Peconic Partners LLC grew its stake in Shoals Technologies Group by 79.8% in the second quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock valued at $29,645,000 after acquiring an additional 3,095,186 shares during the period. Finally, UBS Group AG grew its stake in Shoals Technologies Group by 87.6% in the fourth quarter. UBS Group AG now owns 6,140,543 shares of the company’s stock valued at $52,195,000 after acquiring an additional 2,867,959 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SHLS. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of Shoals Technologies Group in a research note on Wednesday, May 6th. Morgan Stanley decreased their price objective on Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Royal Bank Of Canada decreased their price objective on Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Roth Mkm decreased their price objective on Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Finally, Barclays decreased their price objective on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Ten equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.71.

About Shoals Technologies Group

Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.

Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.