Key Points
- Insider sale: Shoals Technologies Group insider Bobbie Lee King, Jr. sold 10,000 shares on June 16 for about $104,100, reducing his holdings by 9.18% to 98,918 shares.
- Recent earnings beat: The company reported Q1 EPS of $0.07, beating estimates, and revenue of $140.56 million, well above expectations. Revenue also rose 74.4% year over year.
- Analyst outlook remains mixed: MarketBeat data shows a Moderate Buy consensus with an average price target of $9.71, while recent analyst moves included both target cuts and an increased target from Wells Fargo.
Shoals Technologies Group, Inc. (NASDAQ:SHLS - Get Free Report) insider Bobbie Lee King, Jr. sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $10.41, for a total transaction of $104,100.00. Following the transaction, the insider owned 98,918 shares in the company, valued at $1,029,736.38. This represents a 9.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shoals Technologies Group Price Performance
NASDAQ SHLS opened at $9.96 on Wednesday. Shoals Technologies Group, Inc. has a 12 month low of $3.99 and a 12 month high of $13.18. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.84 and a quick ratio of 1.07. The firm has a market capitalization of $1.67 billion, a PE ratio of 49.80, a P/E/G ratio of 1.25 and a beta of 1.90. The company's 50 day simple moving average is $9.07 and its 200 day simple moving average is $8.56.
Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.01. The firm had revenue of $140.56 million for the quarter, compared to analyst estimates of $129.16 million. Shoals Technologies Group had a net margin of 6.27% and a return on equity of 10.03%. The business's revenue for the quarter was up 74.4% on a year-over-year basis. As a group, equities research analysts forecast that Shoals Technologies Group, Inc. will post 0.34 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
SHLS has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of Shoals Technologies Group from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, May 22nd. Morgan Stanley decreased their target price on shares of Shoals Technologies Group from $9.50 to $8.50 and set an "equal weight" rating for the company in a research note on Wednesday, February 25th. Needham & Company LLC reissued a "buy" rating and set a $12.00 target price on shares of Shoals Technologies Group in a research note on Wednesday, May 6th. Barclays decreased their target price on shares of Shoals Technologies Group from $10.00 to $9.00 and set an "overweight" rating for the company in a research note on Wednesday, February 25th. Finally, Wells Fargo & Company lifted their target price on shares of Shoals Technologies Group from $9.00 to $10.00 and gave the company an "equal weight" rating in a research note on Thursday, June 11th. Ten investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.71.
View Our Latest Stock Analysis on Shoals Technologies Group
Institutional Investors Weigh In On Shoals Technologies Group
Hedge funds have recently bought and sold shares of the company. Mercuria Capital Strategies LLC acquired a new stake in Shoals Technologies Group in the third quarter worth $2,223,000. Hussman Strategic Advisors Inc. raised its holdings in Shoals Technologies Group by 140.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 252,000 shares of the company's stock worth $2,142,000 after purchasing an additional 147,000 shares during the period. Assenagon Asset Management S.A. raised its holdings in Shoals Technologies Group by 148.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 414,545 shares of the company's stock worth $3,524,000 after purchasing an additional 247,721 shares during the period. Erste Asset Management GmbH raised its holdings in Shoals Technologies Group by 44.1% in the third quarter. Erste Asset Management GmbH now owns 4,516,372 shares of the company's stock worth $33,873,000 after purchasing an additional 1,382,999 shares during the period. Finally, American Century Companies Inc. raised its holdings in Shoals Technologies Group by 17.8% in the third quarter. American Century Companies Inc. now owns 3,244,717 shares of the company's stock worth $24,043,000 after purchasing an additional 490,451 shares during the period.
About Shoals Technologies Group
(
Get Free Report)
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.
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