Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Brandon Moss Buys 22,300 Shares

Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Brandon Moss purchased 22,300 shares of Shoals Technologies Group stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of $4.55 per share, for a total transaction of $101,465.00. Following the transaction, the chief executive officer now directly owns 593,700 shares in the company, valued at $2,701,335. This represents a 3.90 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shoals Technologies Group Stock Up 9.8 %

Shoals Technologies Group stock opened at $4.83 on Friday. Shoals Technologies Group, Inc. has a twelve month low of $4.07 and a twelve month high of $17.50. The stock has a 50 day moving average of $5.36 and a two-hundred day moving average of $6.06. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $805.16 million, a price-to-earnings ratio of 24.15, a PEG ratio of 0.64 and a beta of 1.73.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). The business had revenue of $102.20 million during the quarter, compared to analyst estimates of $98.86 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The firm’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.16 earnings per share. As a group, research analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Guggenheim reduced their price target on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley dropped their price objective on Shoals Technologies Group from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Friday, November 15th. JPMorgan Chase & Co. dropped their price objective on Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, October 17th. Wells Fargo & Company started coverage on Shoals Technologies Group in a report on Monday, October 14th. They issued an “equal weight” rating and a $46.00 price objective on the stock. Finally, Truist Financial dropped their price objective on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, September 6th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $11.58.

Institutional Trading of Shoals Technologies Group

Hedge funds have recently modified their holdings of the business. M&G Plc acquired a new stake in shares of Shoals Technologies Group in the 2nd quarter valued at approximately $7,021,000. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in shares of Shoals Technologies Group by 104.1% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 135,629 shares of the company’s stock valued at $846,000 after buying an additional 69,193 shares during the period. Swedbank AB acquired a new position in Shoals Technologies Group during the first quarter worth $25,268,000. Skandinaviska Enskilda Banken AB publ raised its holdings in Shoals Technologies Group by 146.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 157,000 shares of the company’s stock worth $980,000 after purchasing an additional 93,400 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in Shoals Technologies Group by 34.2% during the third quarter. Handelsbanken Fonder AB now owns 2,711,603 shares of the company’s stock worth $15,212,000 after purchasing an additional 690,344 shares during 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.