Shoals Technologies Group (NASDAQ:SHLS) Insider Bobbie Lee King, Jr. Sells 10,000 Shares

Shoals Technologies Group, Inc. (NASDAQ:SHLS) insider Bobbie Lee King, Jr. sold 10,000 shares of the company’s stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $10.41, for a total value of $104,100.00. Following the sale, the insider owned 98,918 shares of the company’s stock, valued at approximately $1,029,736.38. The trade was a 9.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shoals Technologies Group Trading Down 3.3%

SHLS stock opened at $9.96 on Wednesday. Shoals Technologies Group, Inc. has a 52 week low of $3.99 and a 52 week high of $13.18. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 49.80, a PEG ratio of 1.25 and a beta of 1.90. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $9.07 and a 200-day simple moving average of $8.56.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The firm had revenue of $140.56 million during the quarter, compared to the consensus estimate of $129.16 million. Shoals Technologies Group’s quarterly revenue was up 74.4% on a year-over-year basis. On average, equities research analysts expect that Shoals Technologies Group, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $12.00 price target on shares of Shoals Technologies Group in a report on Wednesday, May 6th. Royal Bank Of Canada lowered their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Morgan Stanley lowered their price target on Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating for the company in a report on Wednesday, February 25th. Barclays lowered their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Finally, BNP Paribas Exane upgraded Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 price target for the company in a report on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Shoals Technologies Group currently has an average rating of “Moderate Buy” and an average price target of $9.71.

Hedge Funds Weigh In On Shoals Technologies Group

A number of large investors have recently bought and sold shares of SHLS. GAMMA Investing LLC raised its holdings in shares of Shoals Technologies Group by 57.7% during the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after buying an additional 1,375 shares during the last quarter. KBC Group NV bought a new stake in shares of Shoals Technologies Group during the first quarter valued at approximately $30,000. USA Financial Formulas bought a new stake in shares of Shoals Technologies Group during the fourth quarter valued at approximately $49,000. PNC Financial Services Group Inc. raised its holdings in shares of Shoals Technologies Group by 378.0% during the first quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock valued at $50,000 after buying an additional 5,983 shares during the last quarter. Finally, CIBC Asset Management Inc bought a new stake in shares of Shoals Technologies Group during the fourth quarter valued at approximately $85,000.

Shoals Technologies Group Company Profile

Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.

Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.