Shoals Technologies Group Target of Unusually High Options Trading (NASDAQ:SHLS)

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) was the target of unusually large options trading on Tuesday. Stock traders acquired 5,206 call options on the stock. This is an increase of 121% compared to the typical volume of 2,351 call options.

Shoals Technologies Group Stock Up 7.3%

NASDAQ:SHLS traded up $0.34 during trading hours on Friday, reaching $4.92. The company's stock had a trading volume of 1,377,156 shares, compared to its average volume of 6,002,166. The company has a market cap of $820.78 million, a price-to-earnings ratio of 24.18, a price-to-earnings-growth ratio of 0.52 and a beta of 1.52. Shoals Technologies Group has a one year low of $2.71 and a one year high of $8.52. The business's 50-day moving average is $3.66 and its 200-day moving average is $4.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on Shoals Technologies Group from $5.00 to $6.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Jefferies Financial Group cut 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 research note on Wednesday, March 12th. Citigroup boosted their target price on shares of Shoals Technologies Group from $4.50 to $5.50 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. BNP Paribas Exane downgraded shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 target price on the stock. in a research note on Thursday. Finally, Royal Bank of Canada cut 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 research note on Wednesday, February 26th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $8.40.

Insider Transactions at Shoals Technologies Group

In other news, CEO Brandon Moss sold 21,700 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $3.07, for a total transaction of $66,619.00. Following the completion of the sale, the chief executive officer now directly owns 1,051,303 shares of the company's stock, valued at $3,227,500.21. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 40,575 shares of company stock valued at $123,957 in the last three months. 1.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Shoals Technologies Group

A number of hedge funds have recently bought and sold shares of SHLS. Wellington Management Group LLP lifted its stake in shares of Shoals Technologies Group by 51.9% in the first quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company's stock valued at $71,765,000 after buying an additional 7,382,548 shares during the period. Vanguard Group Inc. lifted its stake in shares of Shoals Technologies Group by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 17,163,583 shares of the company's stock valued at $94,915,000 after buying an additional 576,736 shares during the period. Invesco Ltd. lifted its stake in shares of Shoals Technologies Group by 5.8% in the first quarter. Invesco Ltd. now owns 6,791,182 shares of the company's stock valued at $22,547,000 after buying an additional 375,271 shares during the period. Encompass Capital Advisors LLC lifted its stake in shares of Shoals Technologies Group by 14.5% in the fourth quarter. Encompass Capital Advisors LLC now owns 5,410,245 shares of the company's stock valued at $29,919,000 after buying an additional 683,642 shares during the period. Finally, Erste Asset Management GmbH lifted its stake in shares of Shoals Technologies Group by 7.6% in the first quarter. Erste Asset Management GmbH now owns 3,867,306 shares of the company's stock valued at $12,802,000 after buying an additional 273,500 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.