Key Points
- President Jeffery Tolnar sold 2,450 shares on Dec. 5 at an average price of $7.85 for about $19,232, reducing his stake by 0.97% to 249,561 shares, as disclosed in an SEC filing.
- Shoals reported quarterly EPS of $0.12 (meeting estimates) and revenue of $135.8M (beating estimates); the stock trades near $8 with a $1.34B market cap and a P/E around 40.
- Major institutional investors (Wellington, Vanguard, Invesco, others) have recently adjusted positions, and analysts' consensus is a Moderate Buy with a $8.84 average price target (13 Buys, 7 Holds, 2 Sells).
Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) President Jeffery Tolnar sold 2,450 shares of the firm's stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $7.85, for a total transaction of $19,232.50. Following the transaction, the president owned 249,561 shares in the company, valued at approximately $1,959,053.85. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shoals Technologies Group Stock Up 1.3%
SHLS stock opened at $8.03 on Friday. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 40.15, a price-to-earnings-growth ratio of 0.99 and a beta of 1.71. The company has a fifty day moving average price of $8.98 and a 200 day moving average price of $6.85. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.19 and a quick ratio of 1.53. Shoals Technologies Group, Inc. has a 12 month low of $2.71 and a 12 month high of $11.36.
Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, meeting analysts' consensus estimates of $0.12. Shoals Technologies Group had a net margin of 7.66% and a return on equity of 8.50%. The company had revenue of $135.80 million for the quarter, compared to analyst estimates of $131.37 million. Sell-side analysts expect that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its holdings in Shoals Technologies Group by 51.9% during the first quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company's stock worth $71,765,000 after purchasing an additional 7,382,548 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in Shoals Technologies Group in the 2nd quarter valued at approximately $56,120,000. Vanguard Group Inc. grew its holdings in Shoals Technologies Group by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 13,190,006 shares of the company's stock valued at $97,738,000 after buying an additional 295,377 shares during the last quarter. Peconic Partners LLC increased its position in Shoals Technologies Group by 79.8% during 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 in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Shoals Technologies Group by 5.8% in the first quarter. Invesco Ltd. now owns 6,791,182 shares of the company's stock worth $22,547,000 after acquiring an additional 375,271 shares during the last quarter.
Analyst Ratings Changes
SHLS has been the subject of several analyst reports. Wall Street Zen downgraded Shoals Technologies Group from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 17th. JPMorgan Chase & Co. upped their price target on Shoals Technologies Group from $9.00 to $11.00 and gave the stock an "overweight" rating in a research note on Thursday, October 16th. Guggenheim increased their price target on Shoals Technologies Group from $8.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, November 11th. Barclays raised shares of Shoals Technologies Group from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $7.00 to $10.00 in a research note on Thursday, October 2nd. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Shoals Technologies Group in a research note on Tuesday, October 14th. Thirteen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Shoals Technologies Group presently has an average rating of "Moderate Buy" and a consensus price target of $8.84.
Read Our Latest Stock Report on Shoals Technologies Group
Shoals Technologies Group Company Profile
(
Get Free Report)
Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.
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