Dominic Bardos Sells 7,450 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS) CFO Dominic Bardos sold 7,450 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $3.09, for a total value of $23,020.50. Following the sale, the chief financial officer now owns 383,217 shares of the company’s stock, valued at approximately $1,184,140.53. This represents a 1.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shoals Technologies Group Price Performance

Shares of SHLS opened at $2.82 on Friday. The business’s 50-day moving average is $4.63 and its two-hundred day moving average is $5.07. The company has a market capitalization of $470.09 million, a P/E ratio of 14.10, a P/E/G ratio of 0.52 and a beta of 1.69. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. Shoals Technologies Group, Inc. has a fifty-two week low of $2.77 and a fifty-two week high of $13.44.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The company had revenue of $107.00 million for the quarter, compared to analyst estimates of $102.16 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. Shoals Technologies Group’s revenue for the quarter was down 17.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.12 earnings per share. Research analysts predict that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Institutional Investors Weigh In On Shoals Technologies Group

A number of institutional investors have recently modified their holdings of the business. American Trust acquired a new stake in shares of Shoals Technologies Group during the 4th quarter valued at about $72,000. 49 Wealth Management LLC acquired a new stake in shares of Shoals Technologies Group during the 4th quarter valued at about $74,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Shoals Technologies Group by 13.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 478,524 shares of the company’s stock valued at $2,646,000 after acquiring an additional 56,176 shares during the period. Two Sigma Investments LP grew its position in shares of Shoals Technologies Group by 40.6% during the 4th quarter. Two Sigma Investments LP now owns 657,589 shares of the company’s stock valued at $3,636,000 after acquiring an additional 189,754 shares during the period. Finally, State of Wyoming grew its position in shares of Shoals Technologies Group by 250.7% during the 4th quarter. State of Wyoming now owns 15,117 shares of the company’s stock valued at $84,000 after acquiring an additional 10,806 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Shoals Technologies Group from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Oppenheimer reduced their target price on Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating for the company in a research note on Tuesday, January 28th. Bank of America began coverage on Shoals Technologies Group in a research note on Monday, November 25th. They issued a “buy” rating and a $6.00 target price for the company. Piper Sandler reduced their target price on Shoals Technologies Group from $8.00 to $6.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group reduced their target price on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $8.95.

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.