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

Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Investors bought 5,206 call options on the stock. This represents an increase of approximately 121% compared to the average volume of 2,351 call options.

Analyst Ratings Changes

SHLS has been the topic of several recent analyst reports. 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. BNP Paribas Exane lowered shares of Shoals Technologies Group from a "neutral" rating to an "underperform" rating and set a $4.00 price target on the stock. in a research report on Thursday. Wolfe Research initiated coverage on shares of Shoals Technologies Group in a report on Tuesday, February 18th. They set a "peer perform" rating on the stock. Royal Bank of Canada dropped their price objective 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, Jefferies Financial Group dropped their price objective 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. Four analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $8.40.

Insider Buying and Selling

In related news, CEO Brandon Moss sold 21,700 shares of Shoals Technologies Group stock in a transaction 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 $3,227,500.21. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 40,575 shares of company stock worth $123,957 in the last quarter. 1.67% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Shoals Technologies Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goodlander Investment Management LLC acquired a new position in Shoals Technologies Group in the fourth quarter valued at about $8,295,000. Schonfeld Strategic Advisors LLC lifted its position in shares of Shoals Technologies Group by 189.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 123,695 shares of the company's stock worth $684,000 after purchasing an additional 80,911 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Shoals Technologies Group by 126.3% during the fourth quarter. Impax Asset Management Group plc now owns 3,469,360 shares of the company's stock worth $19,083,000 after purchasing an additional 1,935,983 shares in the last quarter. RWC Asset Management LLP acquired a new position in shares of Shoals Technologies Group during the fourth quarter worth approximately $1,891,000. Finally, Erste Asset Management GmbH lifted its position in shares of Shoals Technologies Group by 3.7% during the fourth quarter. Erste Asset Management GmbH now owns 3,593,806 shares of the company's stock worth $20,269,000 after purchasing an additional 128,664 shares in the last quarter.

Shoals Technologies Group Price Performance

NASDAQ:SHLS traded up $0.28 on Friday, reaching $4.86. The stock had a trading volume of 11,165,098 shares, compared to its average volume of 6,048,428. The company has a market capitalization of $811.60 million, a P/E ratio of 24.30, a price-to-earnings-growth ratio of 0.52 and a beta of 1.52. Shoals Technologies Group has a 1-year low of $2.71 and a 1-year high of $8.52. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average price of $3.70 and a 200-day moving average price of $4.38.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.02 EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.02). The firm 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%. Shoals Technologies Group's quarterly revenue was down 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. Research analysts forecast that Shoals Technologies Group will post 0.29 EPS for the current year.

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.