Investors Purchase Large Volume of Call Options on Shoals Technologies Group (NASDAQ:SHLS)

Shoals Technologies Group, Inc. (NASDAQ:SHLS) was the target of some unusual options trading on Tuesday. Stock traders purchased 8,296 call options on the company. This is an increase of approximately 67% compared to the average volume of 4,953 call options.

Analyst Ratings Changes

SHLS has been the topic of several analyst reports. Weiss Ratings raised shares of Shoals Technologies Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, May 22nd. UBS Group raised their price objective on shares of Shoals Technologies Group from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on Shoals Technologies Group from $9.00 to $10.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Citigroup boosted their target price on Shoals Technologies Group from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Barclays increased their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Friday. Ten research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $9.79.

Insider Buying and Selling

In related news, CFO Dominic Bardos sold 54,449 shares of Shoals Technologies Group stock in a transaction on Friday, May 8th. The shares were sold at an average price of $8.48, for a total value of $461,727.52. Following the transaction, the chief financial officer directly owned 394,979 shares in the company, valued at $3,349,421.92. This trade represents a 12.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bobbie Lee King, Jr. sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total transaction of $104,100.00. Following the completion of the transaction, the insider directly owned 98,918 shares in the company, valued at $1,029,736.38. This represents a 9.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Shoals Technologies Group

Institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its stake in Shoals Technologies Group by 292.5% in the 1st quarter. Royal Bank of Canada now owns 106,531 shares of the company’s stock valued at $353,000 after purchasing an additional 79,392 shares in the last quarter. AQR Capital Management LLC boosted its position in Shoals Technologies Group by 184.7% during the first quarter. AQR Capital Management LLC now owns 922,358 shares of the company’s stock worth $2,975,000 after purchasing an additional 598,407 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Shoals Technologies Group in the first quarter valued at $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Shoals Technologies Group by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company’s stock valued at $1,718,000 after purchasing an additional 38,983 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Shoals Technologies Group by 1.9% in the second quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock valued at $832,000 after buying an additional 3,601 shares in the last quarter.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $9.90 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. Shoals Technologies Group has a 52-week low of $4.18 and a 52-week high of $13.18. The company has a 50-day simple moving average of $9.68 and a 200-day simple moving average of $8.70. The company has a market capitalization of $1.66 billion, a PE ratio of 49.50, a P/E/G ratio of 1.13 and a beta of 1.90.

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

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.