Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Jason R. Whitaker Sells 65,675 Shares of Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLSGet Rating) CEO Jason R. Whitaker sold 65,675 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $29.91, for a total value of $1,964,339.25. Following the sale, the chief executive officer now directly owns 602,639 shares in the company, valued at approximately $18,024,932.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Shoals Technologies Group Stock Down 0.1 %

Shoals Technologies Group stock opened at $30.52 on Tuesday. The company has a debt-to-equity ratio of 12.13, a current ratio of 2.60 and a quick ratio of 1.45. Shoals Technologies Group, Inc. has a 1-year low of $9.58 and a 1-year high of $34.29. The company has a market cap of $5.10 billion, a PE ratio of 339.37 and a beta of 2.01. The stock’s 50 day moving average price is $22.61 and its 200 day moving average price is $20.52.

Institutional Trading of Shoals Technologies Group

A number of institutional investors have recently modified their holdings of SHLS. Price T Rowe Associates Inc. MD boosted its position in Shoals Technologies Group by 5.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 13,426,495 shares of the company’s stock worth $221,269,000 after purchasing an additional 694,386 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Shoals Technologies Group by 0.8% in the first quarter. Invesco Ltd. now owns 7,063,711 shares of the company’s stock worth $120,365,000 after acquiring an additional 55,184 shares during the last quarter. William Blair Investment Management LLC acquired a new position in shares of Shoals Technologies Group in the second quarter worth $88,878,000. Goldman Sachs Group Inc. raised its holdings in shares of Shoals Technologies Group by 69.5% in the second quarter. Goldman Sachs Group Inc. now owns 4,073,397 shares of the company’s stock worth $67,130,000 after acquiring an additional 1,670,238 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Shoals Technologies Group by 107.7% in the first quarter. Capital Research Global Investors now owns 3,466,612 shares of the company’s stock worth $59,071,000 after acquiring an additional 1,797,637 shares during the last quarter. 63.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on SHLS. Piper Sandler lifted their price target on Shoals Technologies Group from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 15th. Morgan Stanley lifted their price target on Shoals Technologies Group from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 22nd. Oppenheimer lifted their price target on Shoals Technologies Group to $41.00 in a research report on Thursday, November 17th. Barclays lifted their price target on Shoals Technologies Group from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 16th. Finally, Northland Securities raised Shoals Technologies Group from a “market perform” rating to an “outperform” rating and set a $30.00 price target on the stock in a research report on Tuesday, November 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.93.

About Shoals Technologies Group

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Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It produces EBOS components, including cable assemblies, inline fuses, combiners, disconnects, recombiners, wireless monitoring systems, junction boxes, transition enclosures, splice boxes, wire management solutions, and IV curve benchmarking devices.

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