Brandon Moss Sells 21,700 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Brandon Moss sold 21,700 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $3.07, for a total value of $66,619.00. Following the transaction, the chief executive officer now directly owns 1,051,303 shares in the company, valued at approximately $3,227,500.21. This represents a 2.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shoals Technologies Group Stock Down 6.3 %

Shoals Technologies Group stock opened at $2.82 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $470.09 million, a price-to-earnings ratio of 14.10, a PEG ratio of 0.52 and a beta of 1.69. Shoals Technologies Group, Inc. has a twelve month low of $2.77 and a twelve month high of $13.44. The stock has a 50 day moving average of $4.63 and a two-hundred day moving average of $5.07.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $107.00 million for the quarter, compared to analyst estimates of $102.16 million. Shoals Technologies Group had a return on equity of 9.83% and a net margin of 7.78%. The company’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS. As a group, research analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays dropped their target price on shares of Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Truist Financial dropped their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. The Goldman Sachs Group cut their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley upgraded shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research report on Tuesday, December 17th. Finally, Roth Mkm reduced their price target on shares of Shoals Technologies Group from $5.00 to $4.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Shoals Technologies Group currently has a consensus rating of “Hold” and a consensus price target of $8.95.

Institutional Investors Weigh In On Shoals Technologies Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of Shoals Technologies Group by 48.9% during the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock valued at $33,000 after acquiring an additional 1,906 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in Shoals Technologies Group in the fourth quarter worth about $59,000. TrinityPoint Wealth LLC bought a new position in Shoals Technologies Group during the third quarter valued at about $60,000. American Trust acquired a new position in shares of Shoals Technologies Group in the 4th quarter worth $72,000. Finally, 49 Wealth Management LLC purchased a new position in Shoals Technologies Group during the 4th quarter worth approximately $74,000.

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.