Jeffery Tolnar Sells 2,110 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS) President Jeffery Tolnar sold 2,110 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $6.34, for a total value of $13,377.40. Following the sale, the president now directly owns 125,761 shares of the company’s stock, valued at approximately $797,324.74. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shoals Technologies Group Price Performance

SHLS stock opened at $6.27 on Friday. The company’s 50-day moving average price is $5.95 and its two-hundred day moving average price is $7.74. The firm has a market cap of $1.04 billion, a P/E ratio of 34.84, a P/E/G ratio of 0.91 and a beta of 1.74. The company has a quick ratio of 1.50, a current ratio of 2.26 and a debt-to-equity ratio of 0.27. Shoals Technologies Group, Inc. has a 12 month low of $4.88 and a 12 month high of $21.22.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.13% and a return on equity of 12.75%. The business had revenue of $99.25 million for the quarter, compared to analysts’ expectations of $90.57 million. During the same period last year, the firm posted $0.12 earnings per share. The firm’s quarterly revenue was down 16.7% compared to the same quarter last year. On average, analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SHLS has been the subject of a number of research reports. Citigroup cut shares of Shoals Technologies Group from a “buy” rating to a “sell” rating and cut their target price for the stock from $15.00 to $5.00 in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. reduced their price objective on Shoals Technologies Group from $23.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $11.00 target price on shares of Shoals Technologies Group in a research note on Friday, September 6th. Roth Mkm reduced their price target on Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Friday, September 6th. Finally, BNP Paribas lowered Shoals Technologies Group from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $15.00 to $7.00 in a report on Wednesday, August 7th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Shoals Technologies Group has a consensus rating of “Hold” and an average target price of $11.06.

Hedge Funds Weigh In On Shoals Technologies Group

Institutional investors have recently modified their holdings of the business. American Trust acquired a new stake in Shoals Technologies Group in the second quarter valued at about $68,000. Algert Global LLC lifted its holdings in shares of Shoals Technologies Group by 656.4% in the second quarter. Algert Global LLC now owns 90,431 shares of the company’s stock worth $564,000 after acquiring an additional 78,476 shares during the last quarter. Scientech Research LLC acquired a new stake in shares of Shoals Technologies Group in the 2nd quarter valued at approximately $713,000. Mackenzie Financial Corp bought a new stake in shares of Shoals Technologies Group during the 2nd quarter valued at approximately $64,000. Finally, The Manufacturers Life Insurance Company increased its position in Shoals Technologies Group by 3.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 101,623 shares of the company’s stock worth $637,000 after purchasing an additional 3,699 shares in the last quarter.

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.