Shoals Technologies Group (NASDAQ:SHLS) Insider Sells $104,100.00 in Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS) insider Bobbie Lee King, Jr. sold 10,000 shares of the business’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total transaction of $104,100.00. Following the transaction, the insider owned 98,918 shares in the company, valued at $1,029,736.38. This represents a 9.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Shoals Technologies Group Stock Performance

Shares of SHLS opened at $10.42 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.07. Shoals Technologies Group, Inc. has a one year low of $3.99 and a one year high of $13.18. The company has a 50-day simple moving average of $9.20 and a two-hundred day simple moving average of $8.59. The firm has a market capitalization of $1.74 billion, a PE ratio of 52.10, a price-to-earnings-growth ratio of 1.15 and a beta of 1.90.

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

Wall Street Analyst Weigh In

SHLS has been the topic of several recent research reports. UBS Group upped their price target on Shoals Technologies Group from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings raised Shoals Technologies Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, May 22nd. Wall Street Zen downgraded shares of Shoals Technologies Group from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Roth Mkm decreased their price target on shares of Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Finally, Wells Fargo & Company lifted their price target on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, June 11th. Ten analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Shoals Technologies Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.71.

Institutional Investors Weigh In On Shoals Technologies Group

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

About Shoals Technologies Group

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.