Shoals Technologies Group (NASDAQ:SHLS) Shares Gap Down - What's Next?

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $4.71, but opened at $3.90. Shoals Technologies Group shares last traded at $4.36, with a volume of 2,130,325 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group reduced their price objective on 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. BNP Paribas Exane cut Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price objective for the company. in a research report on Thursday, May 15th. Roth Mkm reduced their price objective on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Mizuho reduced their price objective on 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. Finally, Guggenheim lifted their price objective on Shoals Technologies Group from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $8.40.

Shoals Technologies Group Stock Up 0.4%

The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The firm has a market cap of $766.51 million, a price-to-earnings ratio of 22.95, a PEG ratio of 0.52 and a beta of 1.52. The firm has a 50-day moving average of $3.84 and a two-hundred day moving average of $4.34.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The business had revenue of $80.36 million for the quarter, compared to analyst estimates of $74.66 million. During the same period in the prior year, the firm posted $0.07 EPS. Shoals Technologies Group's revenue for the quarter was down 11.2% on a year-over-year basis. As a group, sell-side analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Shoals Technologies Group news, CEO Brandon Moss sold 21,700 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total value of $66,619.00. Following the completion of the sale, the chief executive officer now owns 1,051,303 shares in the company, valued at approximately $3,227,500.21. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 40,575 shares of company stock worth $123,957. 1.67% of the stock is currently owned by company insiders.

Institutional Trading of Shoals Technologies Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Shoals Technologies Group by 8.1% in the 1st 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 purchasing an additional 38,983 shares during the period. Caxton Associates LLP bought a new stake in shares of Shoals Technologies Group in the 1st quarter valued at approximately $854,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Shoals Technologies Group in the 1st quarter valued at approximately $57,000. Electron Capital Partners LLC grew its stake in shares of Shoals Technologies Group by 20.3% in the 1st quarter. Electron Capital Partners LLC now owns 108,838 shares of the company's stock valued at $361,000 after purchasing an additional 18,378 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Shoals Technologies Group by 184.7% in the 1st quarter. AQR Capital Management LLC now owns 922,358 shares of the company's stock valued at $2,975,000 after purchasing an additional 598,407 shares during the period.

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.