Shoals Technologies Group (NASDAQ:SHLS) Shares Down 5.4% - What's Next?

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report)'s stock price traded down 5.4% on Wednesday . The company traded as low as $4.45 and last traded at $4.47. 741,260 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 6,838,479 shares. The stock had previously closed at $4.72.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Guggenheim upped their price target on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Jefferies Financial Group dropped their target price on shares of Shoals Technologies Group from $4.60 to $3.40 and set a "hold" rating on the stock in a report on Wednesday, March 12th. The Goldman Sachs Group boosted their target price on shares of Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Royal Bank of Canada dropped their target price on shares of Shoals Technologies Group from $9.00 to $7.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Finally, UBS Group dropped their target price on shares of Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, February 26th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.40.

Shoals Technologies Group Price Performance

The firm has a market cap of $799.10 million, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 0.52 and a beta of 1.52. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36. The stock's fifty day moving average price is $3.97 and its 200-day moving average price is $4.32.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released 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). The company had revenue of $80.36 million during the quarter, compared to analyst estimates of $74.66 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm's quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 EPS. Equities research analysts predict that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Shoals Technologies Group

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

Large investors have recently added to or reduced their stakes in the business. MQS Management LLC bought a new stake in Shoals Technologies Group in the first quarter worth approximately $43,000. Cerity Partners LLC bought a new stake in Shoals Technologies Group in the first quarter worth approximately $43,000. Caitong International Asset Management Co. Ltd bought a new stake in Shoals Technologies Group in the first quarter worth approximately $44,000. Virtu Financial LLC bought a new stake in Shoals Technologies Group in the first quarter worth approximately $46,000. Finally, FORA Capital LLC bought a new stake in Shoals Technologies Group in the first quarter worth approximately $51,000.

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.