Shoals Technologies Group (NASDAQ:SHLS) Trading Down 7.7% – Should You Sell?

Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) traded down 7.7% during trading on Tuesday . The company traded as low as $8.48 and last traded at $8.5540. 677,403 shares changed hands during trading, a decline of 81% from the average session volume of 3,598,636 shares. The stock had previously closed at $9.27.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SHLS shares. The Goldman Sachs Group boosted their price objective on shares of Shoals Technologies Group from $8.00 to $11.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Needham & Company LLC started coverage on Shoals Technologies Group in a research report on Wednesday, October 22nd. They issued a “buy” rating and a $12.00 price target on the stock. Guggenheim upped their price target on Shoals Technologies Group from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. JPMorgan Chase & Co. lifted their price objective on Shoals Technologies Group from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, Barclays raised Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $7.00 to $10.00 in a research note on Thursday, October 2nd. Eleven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Shoals Technologies Group currently has a consensus rating of “Hold” and an average target price of $8.86.

Shoals Technologies Group Trading Down 2.1%

The firm has a market cap of $1.52 billion, a P/E ratio of 45.33, a price-to-earnings-growth ratio of 0.78 and a beta of 1.70. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.19. The stock has a fifty day simple moving average of $8.60 and a 200 day simple moving average of $7.74.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $135.80 million during the quarter, compared to the consensus estimate of $131.37 million. Shoals Technologies Group had a return on equity of 8.50% and a net margin of 7.66%. On average, research analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Transactions at Shoals Technologies Group

In other Shoals Technologies Group news, CFO Dominic Bardos sold 4,170 shares of Shoals Technologies Group stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $7.83, for a total value of $32,651.10. Following the completion of the sale, the chief financial officer owned 412,289 shares of the company’s stock, valued at approximately $3,228,222.87. The trade was a 1.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.52% of the company’s stock.

Institutional Trading of Shoals Technologies Group

Large investors have recently modified their holdings of the company. Encompass Capital Advisors LLC bought a new position in Shoals Technologies Group in the second quarter valued at about $56,120,000. Peconic Partners LLC boosted its holdings in shares of Shoals Technologies Group by 79.8% in the second quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock worth $29,645,000 after buying an additional 3,095,186 shares during the last quarter. Amundi raised its position in Shoals Technologies Group by 858.2% in the third quarter. Amundi now owns 2,099,053 shares of the company’s stock worth $15,830,000 after acquiring an additional 1,879,985 shares during the period. Electron Capital Partners LLC grew its position in shares of Shoals Technologies Group by 1,716.1% during the 2nd quarter. Electron Capital Partners LLC now owns 1,976,633 shares of the company’s stock valued at $8,401,000 after acquiring an additional 1,867,795 shares during the period. Finally, Schroder Investment Management Group purchased a new stake in shares of Shoals Technologies Group in the 2nd quarter worth $7,917,000.

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.