Shoals Technologies Group Sees Unusually High Options Volume (NASDAQ:SHLS)

Key Points

• Stock traders purchased 13,859 put options on Shoals Technologies Group, marking a significant increase of approximately 450% compared to the average trading volume.
• Shoals Technologies Group's stock rose 11.3% to a trading price of $5.78, with a total trading volume of nearly 2.9 million shares.
• Analysts have mixed ratings for the company, with consensus rating as "Moderate Buy" and an average price target of $9.15.

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) was the recipient of unusually large options trading on Monday. Stock investors purchased 13,859 put options on the company. Thisisanincreaseof450% compared to the typical volume of 2,522 put options.

Institutional Investors Weigh In On Shoals Technologies Group

Several institutional investors have recently added to or reduced their stakes in SHLS. Nisa Investment Advisors LLC increased its position in Shoals Technologies Group by 449.1% during the second quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company's stock worth $31,000 after buying an additional 5,910 shares during the period. Savant Capital LLC acquired a new position in shares of Shoals Technologies Group in the second quarter valued at approximately $50,000. Ethic Inc. acquired a new position in shares of Shoals Technologies Group in the second quarter valued at approximately $54,000. Cerity Partners LLC acquired a new position in shares of Shoals Technologies Group in the first quarter valued at approximately $43,000. Finally, MQS Management LLC acquired a new position in shares of Shoals Technologies Group in the first quarter valued at approximately $43,000.

Shoals Technologies Group Stock Up 12.5%

Shares of SHLS traded up $0.72 during midday trading on Friday, hitting $6.48. The company had a trading volume of 4,145,968 shares, compared to its average volume of 5,840,786. The company's 50-day simple moving average is $5.40 and its 200-day simple moving average is $4.46. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34. The firm has a market capitalization of $1.08 billion, a P/E ratio of 49.85, a P/E/G ratio of 0.71 and a beta of 1.61. Shoals Technologies Group has a 1 year low of $2.71 and a 1 year high of $7.00.

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

Wall Street Analyst Weigh In

SHLS has been the subject of a number of recent analyst reports. Jefferies Financial Group raised Shoals Technologies Group from a "hold" rating to a "buy" rating and raised their price objective for the stock from $4.90 to $7.20 in a research report on Monday, July 7th. Citigroup raised their target price on Shoals Technologies Group from $4.50 to $5.50 and gave the company a "neutral" rating in a report on Wednesday, May 7th. BNP Paribas restated an "underperform" rating and set a $4.00 target price (down from $4.50) on shares of Shoals Technologies Group in a report on Thursday, May 15th. BNP Paribas Exane cut Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 target price for the company. in a report on Thursday, May 15th. Finally, Barclays raised their target price on Shoals Technologies Group from $4.00 to $7.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $9.15.

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.