Shoals Technologies Group (NASDAQ:SHLS) Insider Bobbie Lee King, Jr. Sells 10,000 Shares

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

Shoals Technologies Group Stock Down 3.3%

Shares of SHLS stock traded down $0.34 on Tuesday, hitting $9.96. 4,178,278 shares of the stock were exchanged, compared to its average volume of 5,053,029. The company has a current ratio of 1.84, a quick ratio of 1.07 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $1.67 billion, a P/E ratio of 49.80, a price-to-earnings-growth ratio of 1.25 and a beta of 1.90. The business has a 50-day moving average of $9.07 and a 200 day moving average of $8.56. Shoals Technologies Group, Inc. has a fifty-two week low of $3.99 and a fifty-two week high of $13.18.

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, topping the consensus estimate of $0.06 by $0.01. The company had revenue of $140.56 million during the quarter, compared to analysts’ expectations of $129.16 million. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.Shoals Technologies Group’s quarterly revenue was up 74.4% compared to the same quarter last year. Equities analysts anticipate that Shoals Technologies Group, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on SHLS shares. Citigroup upped their target price on Shoals Technologies Group from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Wells Fargo & Company upped their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Thursday, June 11th. Barclays dropped their target price on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. JPMorgan Chase & Co. upped their target price on Shoals Technologies Group from $9.00 to $10.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered Shoals Technologies Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Ten analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.71.

Institutional Trading of Shoals Technologies Group

Several institutional investors and hedge funds have recently bought and sold shares of SHLS. Price T Rowe Associates Inc. MD raised its stake in Shoals Technologies Group by 151.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,753,784 shares of the company’s stock valued at $108,410,000 after buying an additional 7,685,515 shares during the period. First Trust Advisors LP raised its stake in Shoals Technologies Group by 1,493.0% in the fourth quarter. First Trust Advisors LP now owns 6,331,682 shares of the company’s stock valued at $53,819,000 after buying an additional 5,934,223 shares during the period. Castle Hook Partners LP bought a new stake in Shoals Technologies Group in the fourth quarter valued at approximately $40,095,000. Amundi raised its stake in Shoals Technologies Group by 175.2% in the fourth quarter. Amundi now owns 5,776,766 shares of the company’s stock valued at $49,075,000 after buying an additional 3,677,713 shares during the period. Finally, Peconic Partners LLC raised its stake in Shoals Technologies Group by 79.8% in the second quarter. Peconic Partners LLC now owns 6,975,186 shares of the company’s stock valued at $29,645,000 after buying an additional 3,095,186 shares during the period.

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.