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

Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Brandon Moss bought 22,300 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of $4.55 per share, with a total value of $101,465.00. Following the completion of the purchase, the chief executive officer now owns 593,700 shares in the company, valued at approximately $2,701,335. This represents a 3.90 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shoals Technologies Group Price Performance

Shoals Technologies Group stock traded up $0.36 during midday trading on Friday, hitting $4.76. The company’s stock had a trading volume of 2,512,622 shares, compared to its average volume of 4,983,161. The stock’s 50-day moving average price is $5.39 and its 200-day moving average price is $6.09. The company has a market capitalization of $793.25 million, a PE ratio of 23.70, a price-to-earnings-growth ratio of 0.61 and a beta of 1.73. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. Shoals Technologies Group, Inc. has a 12 month low of $4.07 and a 12 month high of $17.50.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $102.20 million for 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%. Shoals Technologies Group’s revenue was down 23.8% on a year-over-year basis. During the same quarter last year, the company posted $0.16 EPS. Analysts anticipate that Shoals Technologies Group, Inc. will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shoals Technologies Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. M&G Plc acquired a new stake in Shoals Technologies Group during the 2nd quarter valued at $7,021,000. IQ EQ FUND MANAGEMENT IRELAND Ltd grew its holdings in shares of Shoals Technologies Group by 104.1% during the second 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 in the last quarter. Swedbank AB acquired a new position in Shoals Technologies Group during the first quarter valued at $25,268,000. Skandinaviska Enskilda Banken AB publ lifted its stake in Shoals Technologies Group by 146.9% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 157,000 shares of the company’s stock worth $980,000 after acquiring an additional 93,400 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Shoals Technologies Group by 34.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,711,603 shares of the company’s stock worth $15,212,000 after acquiring an additional 690,344 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SHLS. JPMorgan Chase & Co. cut their price target on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $11.00 price target on shares of Shoals Technologies Group in a research report on Friday, September 6th. Oppenheimer dropped their price objective on Shoals Technologies Group from $14.00 to $12.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Roth Mkm decreased their target price on Shoals Technologies Group from $7.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. Finally, Citigroup upgraded Shoals Technologies Group from a “sell” rating to a “neutral” rating and raised their price target for the company from $5.00 to $5.50 in a research report on Thursday, October 3rd. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $11.58.

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.