Insider Selling: Shoals Technologies Group, Inc. (NASDAQ:SHLS) Insider Sells 181,541 Shares of Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Rating) insider Jason R. Whitaker sold 181,541 shares of Shoals Technologies Group stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $21.16, for a total value of $3,841,407.56. Following the sale, the insider now owns 634,637 shares in the company, valued at approximately $13,428,918.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Shoals Technologies Group Price Performance

Shares of SHLS opened at $20.11 on Friday. Shoals Technologies Group, Inc. has a twelve month low of $9.58 and a twelve month high of $32.43. The stock’s 50 day moving average is $25.48 and its two-hundred day moving average is $24.63. The firm has a market capitalization of $3.41 billion, a PE ratio of 24.23 and a beta of 2.17. The company has a current ratio of 2.92, a quick ratio of 1.53 and a debt-to-equity ratio of 0.79.

Institutional Investors Weigh In On Shoals Technologies Group

Institutional investors have recently added to or reduced their stakes in the business. TFC Financial Management Inc. boosted its holdings in Shoals Technologies Group by 511.6% in the 4th quarter. TFC Financial Management Inc. now owns 1,315 shares of the company’s stock valued at $32,000 after purchasing an additional 1,100 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in Shoals Technologies Group in the 1st quarter valued at approximately $36,000. Toroso Investments LLC purchased a new stake in Shoals Technologies Group in the 3rd quarter valued at approximately $44,000. Captrust Financial Advisors boosted its holdings in Shoals Technologies Group by 89.8% in the 1st quarter. Captrust Financial Advisors now owns 3,162 shares of the company’s stock valued at $54,000 after purchasing an additional 1,496 shares in the last quarter. Finally, Strs Ohio purchased a new stake in Shoals Technologies Group in the 3rd quarter valued at approximately $73,000. Hedge funds and other institutional investors own 81.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SHLS shares. Northland Securities cut Shoals Technologies Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $30.00 to $27.00 in a research report on Wednesday, March 1st. TheStreet cut Shoals Technologies Group from a “c-” rating to a “d+” rating in a research report on Thursday, February 9th. Credit Suisse Group reiterated an “outperform” rating and set a $29.00 target price on shares of Shoals Technologies Group in a research report on Monday, March 6th. Morgan Stanley cut their target price on Shoals Technologies Group from $36.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 10th. Finally, JPMorgan Chase & Co. lifted their target price on Shoals Technologies Group from $35.00 to $36.00 in a research report on Thursday, December 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Shoals Technologies Group has an average rating of “Hold” and an average target price of $31.03.

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.