Stock Traders Buy Large Volume of Shoals Technologies Group Call Options (NASDAQ:SHLS)

Shoals Technologies Group, Inc. (NASDAQ:SHLS) was the recipient of unusually large options trading on Friday. Stock investors acquired 26,843 call options on the company. This represents an increase of 818% compared to the typical daily volume of 2,924 call options.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. The Goldman Sachs Group restated a “buy” rating on shares of Shoals Technologies Group in a research report on Monday, February 9th. TD Cowen restated a “buy” rating on shares of Shoals Technologies Group in a research report on Tuesday, February 24th. Royal Bank Of Canada dropped their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Finally, Guggenheim dropped their price target on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Shoals Technologies Group has an average rating of “Moderate Buy” and an average price target of $9.64.

Shoals Technologies Group Stock Up 12.1%

NASDAQ:SHLS traded up $1.13 during trading hours on Friday, reaching $10.41. 9,114,821 shares of the company traded hands, compared to its average volume of 5,180,942. The business’s 50-day moving average price is $7.03 and its two-hundred day moving average price is $8.28. The stock has a market capitalization of $1.74 billion, a P/E ratio of 51.95, a P/E/G ratio of 1.11 and a beta of 1.74. Shoals Technologies Group has a 1 year low of $3.81 and a 1 year high of $11.36. The company has a current ratio of 1.84, a quick ratio of 1.07 and a debt-to-equity ratio of 0.30.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $140.56 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. Analysts predict that Shoals Technologies Group will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Shoals Technologies Group

In other news, CFO Dominic Bardos sold 54,449 shares of Shoals Technologies Group stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $8.48, for a total value of $461,727.52. Following the sale, the chief financial officer directly owned 394,979 shares in the company, valued at approximately $3,349,421.92. This trade represents a 12.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SHLS. Royal Bank of Canada raised its stake in Shoals Technologies Group by 292.5% during the first quarter. Royal Bank of Canada now owns 106,531 shares of the company’s stock valued at $353,000 after buying an additional 79,392 shares during the last quarter. AQR Capital Management LLC raised its stake in Shoals Technologies Group by 184.7% during the first quarter. AQR Capital Management LLC now owns 922,358 shares of the company’s stock valued at $2,975,000 after buying an additional 598,407 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Shoals Technologies Group during the first quarter valued at $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Shoals Technologies Group by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company’s stock valued at $1,718,000 after buying an additional 38,983 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Shoals Technologies Group by 1.9% during the second quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock valued at $832,000 after buying an additional 3,601 shares during the last quarter.

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.