Insider Selling: Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Sells 12,054 Shares of Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Rating) CEO Jason R. Whitaker sold 12,054 shares of the company’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $28.58, for a total transaction of $344,503.32. Following the transaction, the chief executive officer now directly owns 543,180 shares of the company’s stock, valued at approximately $15,524,084.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shoals Technologies Group Price Performance

Shares of SHLS stock opened at $27.36 on Friday. The firm has a fifty day simple moving average of $26.29 and a 200-day simple moving average of $23.63. The company has a market capitalization of $4.58 billion, a PE ratio of 304.03 and a beta of 2.14. Shoals Technologies Group, Inc. has a twelve month low of $9.58 and a twelve month high of $32.43. The company has a current ratio of 2.60, a quick ratio of 1.45 and a debt-to-equity ratio of 12.13.

Shoals Technologies Group (NASDAQ:SHLS – Get Rating) last issued its quarterly earnings data on Monday, November 14th. The company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $90.82 million for the quarter, compared to analyst estimates of $82.92 million. Shoals Technologies Group had a net margin of 4.70% and a return on equity of 453.46%. Equities research analysts anticipate that Shoals Technologies Group, Inc. will post 0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on SHLS shares. Barclays upped their price objective on Shoals Technologies Group from $25.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 16th. Oppenheimer raised their price objective on Shoals Technologies Group to $41.00 in a report on Thursday, November 17th. Credit Suisse Group boosted their target price on Shoals Technologies Group from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday. Cowen cut their price target on shares of Shoals Technologies Group from $37.50 to $35.00 and set an “outperform” rating on the stock in a report on Friday. Finally, The Goldman Sachs Group boosted their price objective on shares of Shoals Technologies Group from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $31.18.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SHLS. Raymond James & Associates raised its position in shares of Shoals Technologies Group by 1.1% in the 1st quarter. Raymond James & Associates now owns 90,966 shares of the company’s stock valued at $1,550,000 after purchasing an additional 1,034 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Shoals Technologies Group by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 341,154 shares of the company’s stock worth $5,813,000 after buying an additional 9,067 shares during the last quarter. US Bancorp DE raised its holdings in Shoals Technologies Group by 700.2% in the first quarter. US Bancorp DE now owns 6,450 shares of the company’s stock valued at $110,000 after acquiring an additional 5,644 shares in the last quarter. Bank of Montreal Can boosted its stake in Shoals Technologies Group by 41.1% during the 1st quarter. Bank of Montreal Can now owns 33,244 shares of the company’s stock valued at $597,000 after acquiring an additional 9,691 shares during the last quarter. Finally, MetLife Investment Management LLC acquired a new position in Shoals Technologies Group during the 1st quarter worth $36,000. Hedge funds and other institutional investors own 81.94% of the company’s stock.

Shoals Technologies Group Company Profile

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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.