Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Brandon Moss Acquires 22,300 Shares

Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Brandon Moss acquired 22,300 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was bought at an average cost of $4.55 per share, with a total value of $101,465.00. Following the completion of the acquisition, the chief executive officer now directly owns 593,700 shares in the company, valued at approximately $2,701,335. This represents a 3.90 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Shoals Technologies Group Stock Performance

NASDAQ:SHLS traded up $0.04 during mid-day trading on Thursday, reaching $4.45. 2,953,762 shares of the stock were exchanged, compared to its average volume of 4,993,994. The company has a 50 day simple moving average of $5.43 and a 200-day simple moving average of $6.10. The stock has a market capitalization of $741.59 million, a P/E ratio of 22.30, a P/E/G ratio of 0.61 and a beta of 1.73. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. Shoals Technologies Group, Inc. has a 1 year low of $4.07 and a 1 year high of $17.50.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The company had revenue of $102.20 million during the quarter, compared to analyst estimates of $98.86 million. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company’s revenue for the quarter was down 23.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.16 EPS. Analysts anticipate that Shoals Technologies Group, Inc. will post 0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Wells Fargo & Company initiated coverage on shares of Shoals Technologies Group in a research report on Monday, October 14th. They issued an “equal weight” rating and a $46.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $11.00 price objective on shares of Shoals Technologies Group in a research report on Friday, September 6th. BNP Paribas lowered Shoals Technologies Group from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $15.00 to $7.00 in a research report on Wednesday, August 7th. UBS Group dropped their price target on Shoals Technologies Group from $12.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. Finally, Oppenheimer dropped their price target on shares of Shoals Technologies Group from $14.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.68.

Hedge Funds Weigh In On Shoals Technologies Group

Several hedge funds have recently modified their holdings of the company. Barclays PLC boosted its holdings in shares of Shoals Technologies Group by 25.9% in the third quarter. Barclays PLC now owns 291,242 shares of the company’s stock worth $1,634,000 after buying an additional 59,856 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in shares of Shoals Technologies Group by 33.6% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 147,187 shares of the company’s stock worth $826,000 after purchasing an additional 37,008 shares during the period. XTX Topco Ltd lifted its holdings in shares of Shoals Technologies Group by 346.6% during the 3rd quarter. XTX Topco Ltd now owns 135,104 shares of the company’s stock valued at $758,000 after acquiring an additional 104,850 shares in the last quarter. Yaupon Capital Management LP acquired a new stake in shares of Shoals Technologies Group in the 3rd quarter worth about $8,585,000. Finally, Wellington Management Group LLP lifted its position in Shoals Technologies Group by 14.6% in the 3rd quarter. Wellington Management Group LLP now owns 13,107,404 shares of the company’s stock worth $73,533,000 after buying an additional 1,666,691 shares in the last quarter.

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.