Stock Traders Buy Large Volume of Call Options on Shoals Technologies Group (NASDAQ:SHLS)

Key Points

• Traders purchased approximately 10,780 call options for Shoals Technologies Group, marking an increase of 207% from its typical daily volume.
• Shoals Technologies Group's stock rose by 12.5% to reach $8.92, with a trading volume exceeding its average.
• Analysts have mixed ratings on the stock, with 14 analysts rating it as a Buy, while setting a consensus target price of $9.40.

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) was the recipient of some unusual options trading on Thursday. Traders purchased 10,780 call options on the company. This is an increase of approximately 207% compared to the typical daily volume of 3,506 call options.

Shoals Technologies Group Stock Up 12.5%

Shoals Technologies Group stock traded up $0.99 during mid-day trading on Thursday, reaching $8.92. The company's stock had a trading volume of 9,165,566 shares, compared to its average volume of 6,209,693. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 68.58, a price-to-earnings-growth ratio of 0.91 and a beta of 1.65. Shoals Technologies Group has a 12 month low of $2.71 and a 12 month high of $9.22. The business's 50 day simple moving average is $6.32 and its 200 day simple moving average is $5.11. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.02. The business had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The firm's revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.10 earnings per share. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts anticipate that Shoals Technologies Group will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Mizuho downgraded Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price objective for the company. in a report on Monday, July 14th. Barclays upgraded Shoals Technologies Group from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $7.00 to $10.00 in a research note on Thursday. JPMorgan Chase & Co. increased their price target on shares of Shoals Technologies Group from $8.00 to $9.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. Guggenheim increased their price target on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a research report on Wednesday, August 6th. Finally, UBS Group increased their price target on shares of Shoals Technologies Group from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Shoals Technologies Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.40.

Hedge Funds Weigh In On Shoals Technologies Group

Hedge funds have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Shoals Technologies Group by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 478,524 shares of the company's stock valued at $2,646,000 after purchasing an additional 56,176 shares during the last quarter. Rhumbline Advisers grew its holdings in Shoals Technologies Group by 2.5% during the 1st quarter. Rhumbline Advisers now owns 248,924 shares of the company's stock worth $826,000 after acquiring an additional 6,112 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in Shoals Technologies Group during the 1st quarter worth approximately $64,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Shoals Technologies Group in the 1st quarter worth approximately $65,000. Finally, Janney Montgomery Scott LLC lifted its position in shares of Shoals Technologies Group by 187.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 269,096 shares of the company's stock valued at $893,000 after acquiring an additional 175,627 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.

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