Brandon Moss Buys 22,300 Shares of Shoals Technologies Group, Inc. (NASDAQ:SHLS) Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Brandon Moss acquired 22,300 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average price of $4.55 per share, with a total value of $101,465.00. Following the completion of the transaction, the chief executive officer now directly owns 593,700 shares of the company’s stock, valued at approximately $2,701,335. This represents a 3.90 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shoals Technologies Group Stock Performance

Shares of Shoals Technologies Group stock opened at $4.83 on Friday. Shoals Technologies Group, Inc. has a 52 week low of $4.07 and a 52 week high of $17.50. The business’s fifty day simple moving average is $5.36 and its 200-day simple moving average is $6.06. The firm has a market cap of $805.16 million, a PE ratio of 24.15, a price-to-earnings-growth ratio of 0.64 and a beta of 1.73. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.02). Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The business had revenue of $102.20 million during the quarter, compared to analyst estimates of $98.86 million. During the same period last year, the company earned $0.16 EPS. The business’s revenue for the quarter was down 23.8% on a year-over-year basis. Equities analysts forecast that Shoals Technologies Group, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Shoals Technologies Group

Hedge funds have recently bought and sold shares of the company. FMR LLC lifted its stake in Shoals Technologies Group by 48.9% during the 3rd quarter. FMR LLC now owns 5,806 shares of the company’s stock worth $33,000 after acquiring an additional 1,906 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in Shoals Technologies Group during the 2nd quarter worth about $54,000. Mackenzie Financial Corp acquired a new position in Shoals Technologies Group during the 2nd quarter worth about $64,000. Paloma Partners Management Co acquired a new position in Shoals Technologies Group during the 1st quarter worth about $115,000. Finally, TrinityPoint Wealth LLC acquired a new position in Shoals Technologies Group during the 3rd quarter worth about $60,000.

Analyst Ratings Changes

Several analysts recently commented on the company. Guggenheim dropped their price target on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial dropped their price target on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $12.00 price target on shares of Shoals Technologies Group in a research report on Tuesday, September 17th. Piper Sandler dropped their price target on Shoals Technologies Group from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Roth Capital cut Shoals Technologies Group from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.58.

About Shoals Technologies Group

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.