Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) saw unusually large options trading activity on Friday. Traders purchased 26,573 call options on the stock. This represents an increase of approximately 1,471% compared to the average volume of 1,692 call options.
Shoals Technologies Group Trading Down 2.6 %
SHLS traded down $0.10 during midday trading on Wednesday, reaching $3.69. 3,705,744 shares of the company were exchanged, compared to its average volume of 5,781,392. The stock has a market capitalization of $616.21 million, a P/E ratio of 18.45, a PEG ratio of 0.52 and a beta of 1.54. The stock's 50-day simple moving average is $3.36 and its 200 day simple moving average is $4.42. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. Shoals Technologies Group has a one year low of $2.71 and a one year high of $9.17.
Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The company had revenue of $107.00 million for the quarter, compared to the consensus estimate of $102.16 million. During the same quarter in the prior year, the company earned $0.12 EPS. The company's revenue for the quarter was down 17.9% on a year-over-year basis. As a group, analysts forecast that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
SHLS has been the topic of a number of recent research reports. Mizuho decreased their price target on shares of Shoals Technologies Group from $7.00 to $6.00 and set an "outperform" rating on the stock in a research note on Friday, January 24th. Truist Financial lowered 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 research note on Thursday, January 16th. Roth Mkm decreased their price objective on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Piper Sandler dropped their target price on Shoals Technologies Group from $8.00 to $6.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Finally, Wolfe Research began coverage on Shoals Technologies Group in a research note on Tuesday, February 18th. They issued a "peer perform" rating on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $8.87.
Check Out Our Latest Research Report on Shoals Technologies Group
Insider Transactions 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 stock was sold at an average price of $3.07, for a total value of $66,619.00. Following the completion of the transaction, the chief executive officer now owns 1,051,303 shares of the company's stock, valued at $3,227,500.21. This represents a 2.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders have sold 40,575 shares of company stock worth $123,957. 1.67% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Shoals Technologies Group
Several hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its holdings in shares of Shoals Technologies Group by 48.9% during the third quarter. FMR LLC now owns 5,806 shares of the company's stock worth $33,000 after buying an additional 1,906 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in Shoals Technologies Group in the 4th quarter worth about $59,000. American Trust bought a new stake in Shoals Technologies Group in the 4th quarter valued at about $72,000. 49 Wealth Management LLC acquired a new position in shares of Shoals Technologies Group during the 4th quarter worth approximately $74,000. Finally, State of Wyoming increased its holdings in shares of Shoals Technologies Group by 250.7% during the fourth quarter. State of Wyoming now owns 15,117 shares of the company's stock worth $84,000 after purchasing an additional 10,806 shares during the period.
About Shoals Technologies Group
(
Get Free Report)
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.
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