Shoals Technologies Group, Inc. (NASDAQ:SHLS) CFO Sells $23,020.50 in Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS) CFO Dominic Bardos sold 7,450 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $3.09, for a total transaction of $23,020.50. Following the completion of the transaction, the chief financial officer now owns 383,217 shares of the company’s stock, valued at approximately $1,184,140.53. The trade was a 1.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Shoals Technologies Group Trading Down 6.3 %

NASDAQ:SHLS opened at $2.82 on Friday. Shoals Technologies Group, Inc. has a 12 month low of $2.77 and a 12 month high of $13.44. The firm has a market cap of $470.09 million, a price-to-earnings ratio of 14.10, a P/E/G ratio of 0.52 and a beta of 1.69. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $4.58 and its 200-day moving average is $5.05.

Shoals Technologies Group (NASDAQ:SHLS) last released 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). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm had revenue of $107.00 million during the quarter, compared to the consensus estimate of $102.16 million. During the same period in the prior year, the business earned $0.12 EPS. The company’s revenue for the quarter was down 17.9% compared to the same quarter last year. Equities analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on SHLS. Bank of America began coverage on shares of Shoals Technologies Group in a report on Monday, November 25th. They issued a “buy” rating and a $6.00 target price for the company. Mizuho reduced their price target 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. Royal Bank of Canada reduced their price target on shares of Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Guggenheim reduced their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $8.95.

Hedge Funds Weigh In On Shoals Technologies Group

Institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Shoals Technologies Group by 48.9% in the third quarter. FMR LLC now owns 5,806 shares of the company’s stock valued at $33,000 after purchasing an additional 1,906 shares during the period. Empirical Asset Management LLC acquired a new stake in shares of Shoals Technologies Group in the fourth quarter worth $59,000. TrinityPoint Wealth LLC acquired a new stake in shares of Shoals Technologies Group in the third quarter worth $60,000. American Trust acquired a new stake in shares of Shoals Technologies Group in the fourth quarter worth $72,000. Finally, 49 Wealth Management LLC acquired a new stake in shares of Shoals Technologies Group in the fourth quarter worth $74,000.

Shoals Technologies Group Company Profile

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.