Shoals Technologies Group (NASDAQ:SHLS) President Jeffery Tolnar Sells 2,450 Shares

Shoals Technologies Group, Inc. (NASDAQ:SHLS) President Jeffery Tolnar sold 2,450 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $7.85, for a total transaction of $19,232.50. Following the completion of the sale, the president directly owned 249,561 shares in the company, valued at approximately $1,959,053.85. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Shoals Technologies Group Trading Up 1.3%

NASDAQ SHLS traded up $0.10 during mid-day trading on Friday, reaching $8.03. 3,530,589 shares of the stock were exchanged, compared to its average volume of 6,278,770. Shoals Technologies Group, Inc. has a one year low of $2.71 and a one year high of $11.36. The stock has a 50 day simple moving average of $8.97 and a 200-day simple moving average of $6.82. The stock has a market cap of $1.34 billion, a P/E ratio of 40.15, a P/E/G ratio of 0.95 and a beta of 1.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.19 and a quick ratio of 1.53.

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

Hedge Funds Weigh In On Shoals Technologies Group

Large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC grew its position in Shoals Technologies Group by 449.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock valued at $31,000 after purchasing an additional 5,910 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Shoals Technologies Group in the first quarter valued at $44,000. Virtu Financial LLC acquired a new position in shares of Shoals Technologies Group during the first quarter valued at about $46,000. Savant Capital LLC bought a new stake in shares of Shoals Technologies Group during the second quarter worth about $50,000. Finally, FORA Capital LLC acquired a new stake in shares of Shoals Technologies Group in the 1st quarter worth about $51,000.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wall Street Zen cut Shoals Technologies Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 17th. Barclays upgraded Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $7.00 to $10.00 in a report on Thursday, October 2nd. Guggenheim lifted their price objective on shares of Shoals Technologies Group from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Morgan Stanley boosted their target price on shares of Shoals Technologies Group from $7.00 to $11.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Finally, Needham & Company LLC assumed coverage on shares of Shoals Technologies Group in a research note on Wednesday, October 22nd. They set a “buy” rating and a $12.00 target price on the stock. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price 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.