Shoals Technologies Group (NASDAQ:SHLS) CFO Dominic Bardos Sells 4,170 Shares

Shoals Technologies Group, Inc. (NASDAQ:SHLS) CFO Dominic Bardos sold 4,170 shares of the stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $7.83, for a total value of $32,651.10. Following the transaction, the chief financial officer owned 412,289 shares of the company’s stock, valued at approximately $3,228,222.87. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shoals Technologies Group Stock Up 1.3%

Shares of NASDAQ:SHLS opened at $8.03 on Friday. The firm has a market cap of $1.34 billion, a PE ratio of 40.15, a price-to-earnings-growth ratio of 0.99 and a beta of 1.71. The company has a fifty day simple moving average of $8.98 and a 200 day simple moving average of $6.85. The company has a current ratio of 2.19, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. Shoals Technologies Group, Inc. has a 12-month low of $2.71 and a 12-month high of $11.36.

Shoals Technologies Group (NASDAQ:SHLS) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. The firm had revenue of $135.80 million for the quarter, compared to the consensus estimate of $131.37 million. Shoals Technologies Group had a net margin of 7.66% and a return on equity of 8.50%. On average, equities research analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SHLS. XTX Topco Ltd lifted its stake in Shoals Technologies Group by 200.9% in the first quarter. XTX Topco Ltd now owns 129,178 shares of the company’s stock valued at $429,000 after buying an additional 86,249 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Shoals Technologies Group by 10.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,345,728 shares of the company’s stock worth $4,468,000 after acquiring an additional 125,941 shares during the period. Headlands Technologies LLC bought a new stake in Shoals Technologies Group in the 1st quarter valued at about $82,000. Invesco Ltd. lifted its position in Shoals Technologies Group by 5.8% in the 1st quarter. Invesco Ltd. now owns 6,791,182 shares of the company’s stock valued at $22,547,000 after purchasing an additional 375,271 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Shoals Technologies Group during the 1st quarter valued at about $46,000.

Wall Street Analyst Weigh In

A number of research firms recently commented on SHLS. Needham & Company LLC initiated coverage on Shoals Technologies Group in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $12.00 price target for the company. Guggenheim lifted their target price on Shoals Technologies Group from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. boosted their price target on Shoals Technologies Group from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Roth Capital reissued a “buy” rating and set a $15.00 price target (up from $10.00) on shares of Shoals Technologies Group in a research report on Wednesday, November 5th. Finally, Zacks Research downgraded shares of Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 19th. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $8.84.

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.