Insider Selling: Shoals Technologies Group, Inc. (NASDAQ:SHLS) President Sells $17,806.00 in Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS) President Jeffery Tolnar sold 5,800 shares of the firm’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 transaction of $17,806.00. Following the transaction, the president now directly owns 256,126 shares of the company’s stock, valued at $786,306.82. This represents a 2.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shoals Technologies Group Trading Down 6.3 %

Shares of Shoals Technologies Group stock opened at $2.82 on Friday. The company’s fifty day simple moving average is $4.58 and its 200-day simple moving average is $5.05. The stock has a market capitalization of $470.09 million, a PE ratio of 14.10, a P/E/G ratio of 0.52 and a beta of 1.69. Shoals Technologies Group, Inc. has a 1-year low of $2.77 and a 1-year high of $13.44. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.08 and a quick ratio of 1.36.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). The business had revenue of $107.00 million for the quarter, compared to analysts’ expectations 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 revenue was down 17.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. As a group, equities analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SHLS. FMR LLC boosted its stake 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 worth $33,000 after acquiring an additional 1,906 shares during the last quarter. Empirical Asset Management LLC purchased a new position in shares of Shoals Technologies Group during the 4th quarter valued at $59,000. TrinityPoint Wealth LLC purchased a new position in shares of Shoals Technologies Group during the 3rd quarter valued at $60,000. American Trust purchased a new position in shares of Shoals Technologies Group during the 4th quarter valued at $72,000. Finally, 49 Wealth Management LLC purchased a new position in shares of Shoals Technologies Group during the 4th quarter valued at $74,000.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SHLS shares. UBS Group reduced their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Oppenheimer reduced their price target on shares of Shoals Technologies Group from $11.00 to $10.00 and set an “outperform” rating for the company in a research report on Tuesday, January 28th. Roth Mkm reduced their price target on shares of Shoals Technologies Group from $5.00 to $4.50 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Barclays reduced their price target on shares of Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, Truist Financial reduced their price target on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $8.95.

About Shoals Technologies Group

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.