Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Brandon Moss Buys 22,300 Shares

Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Brandon Moss purchased 22,300 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average price of $4.55 per share, with a total value of $101,465.00. Following the completion of the transaction, the chief executive officer now owns 593,700 shares of the company’s stock, valued at $2,701,335. The trade was a 3.90 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shoals Technologies Group Trading Up 8.2 %

Shares of NASDAQ SHLS traded up $0.36 during midday trading on Friday, reaching $4.76. 2,512,622 shares of the stock were exchanged, compared to its average volume of 4,983,161. The stock has a market capitalization of $793.25 million, a P/E ratio of 23.70, a PEG ratio of 0.61 and a beta of 1.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. The company has a 50 day simple moving average of $5.39 and a 200 day simple moving average of $6.09. Shoals Technologies Group, Inc. has a twelve month low of $4.07 and a twelve month high of $17.50.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings results 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 business had revenue of $102.20 million for the quarter, compared to analysts’ expectations of $98.86 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business’s revenue for the quarter was down 23.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. As a group, equities analysts expect that Shoals Technologies Group, Inc. will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SHLS. Truist Financial dropped their price objective on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Northland Securities cut their price target on Shoals Technologies Group from $6.00 to $4.00 and set an “underperform” rating on the stock in a research note on Thursday, August 8th. Roth Mkm lowered their price objective on shares of Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Royal Bank of Canada restated an “outperform” rating and issued a $11.00 price target on shares of Shoals Technologies Group in a report on Friday, September 6th. Finally, Wells Fargo & Company began coverage on shares of Shoals Technologies Group in a report on Monday, October 14th. They set an “equal weight” rating and a $46.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.58.

Institutional Investors Weigh In On Shoals Technologies Group

Institutional investors have recently modified their holdings of the company. ProShare Advisors LLC boosted its holdings in shares of Shoals Technologies Group by 6.3% in the first quarter. ProShare Advisors LLC now owns 41,051 shares of the company’s stock valued at $459,000 after acquiring an additional 2,427 shares during the period. Blair William & Co. IL increased its holdings in shares of Shoals Technologies Group by 81.9% in the first quarter. Blair William & Co. IL now owns 37,909 shares of the company’s stock valued at $424,000 after purchasing an additional 17,064 shares during the period. Vanguard Group Inc. raised its stake in shares of Shoals Technologies Group by 1.0% during the first quarter. Vanguard Group Inc. now owns 16,531,712 shares of the company’s stock worth $184,825,000 after purchasing an additional 171,273 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Shoals Technologies Group by 15.9% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 436,340 shares of the company’s stock valued at $4,878,000 after buying an additional 59,967 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in Shoals Technologies Group by 8.4% in the 1st quarter. Lazard Asset Management LLC now owns 150,026 shares of the company’s stock valued at $1,676,000 after buying an additional 11,671 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.