Insider Selling: Shoals Technologies Group (NASDAQ:SHLS) CFO Sells 54,449 Shares of Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS) CFO Dominic Bardos sold 54,449 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $8.48, for a total transaction of $461,727.52. Following the completion of the sale, the chief financial officer directly owned 394,979 shares in the company, valued at $3,349,421.92. This trade represents a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shoals Technologies Group Stock Performance

Shares of SHLS stock traded up $1.00 during trading hours on Friday, hitting $8.84. The company’s stock had a trading volume of 8,525,969 shares, compared to its average volume of 5,144,906. The company has a 50 day moving average of $6.75 and a 200 day moving average of $8.33. The stock has a market cap of $1.48 billion, a PE ratio of 44.20, a price-to-earnings-growth ratio of 0.95 and a beta of 1.74. The company has a current ratio of 1.84, a quick ratio of 1.32 and a debt-to-equity ratio of 0.30. Shoals Technologies Group, Inc. has a 12-month low of $3.81 and a 12-month high of $11.36.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Tuesday, May 5th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $140.56 million for the quarter, compared to the consensus estimate of $129.16 million. The company’s revenue was up 74.4% compared to the same quarter last year. On average, sell-side analysts forecast that Shoals Technologies Group, Inc. will post 0.37 EPS for the current fiscal year.

Analyst Ratings Changes

SHLS has been the topic of a number of recent research reports. Wall Street Zen downgraded Shoals Technologies Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. TD Cowen reissued a “buy” rating on shares of Shoals Technologies Group in a report on Tuesday, February 24th. BNP Paribas Exane raised shares of Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 price target on the stock in a report on Wednesday, February 25th. Guggenheim lowered their price target on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, Citigroup increased their price target on shares of Shoals Technologies Group from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Wednesday. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Shoals Technologies Group presently has a consensus rating of “Moderate Buy” and an average target price of $9.64.

Institutional Investors Weigh In On Shoals Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in SHLS. Royal Bank of Canada raised its stake in shares of Shoals Technologies Group by 292.5% in the 1st quarter. Royal Bank of Canada now owns 106,531 shares of the company’s stock valued at $353,000 after acquiring an additional 79,392 shares during the period. AQR Capital Management LLC raised its holdings in shares of Shoals Technologies Group by 184.7% in the 1st quarter. AQR Capital Management LLC now owns 922,358 shares of the company’s stock valued at $2,975,000 after buying an additional 598,407 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Shoals Technologies Group in the 1st quarter valued at $57,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Shoals Technologies Group by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 517,507 shares of the company’s stock valued at $1,718,000 after buying an additional 38,983 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Shoals Technologies Group by 1.9% in the 2nd quarter. Legal & General Group Plc now owns 195,828 shares of the company’s stock valued at $832,000 after buying an additional 3,601 shares during the period.

Shoals Technologies Group Company Profile

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.