Shoals Technologies Group Target of Unusually High Options Trading (NASDAQ:SHLS)

Shoals Technologies Group, Inc. (NASDAQ:SHLS) was the recipient of some unusual options trading on Friday. Stock traders bought 26,843 call options on the stock. This represents an increase of 818% compared to the average daily volume of 2,924 call options.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SHLS shares. Wall Street Zen lowered Shoals Technologies Group from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. Wells Fargo & Company dropped their target price on Shoals Technologies Group from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Citigroup increased their price target on shares of Shoals Technologies Group from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Barclays decreased their price target on shares of Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, Jefferies Financial Group dropped their price objective on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, March 11th. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Shoals Technologies Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.64.

Insider Buying and Selling

In related news, CFO Dominic Bardos sold 54,449 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $8.48, for a total value of $461,727.52. Following the completion of the transaction, the chief financial officer directly owned 394,979 shares in the company, valued at approximately $3,349,421.92. This represents a 12.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.81% of the company’s stock.

Institutional Trading of Shoals Technologies Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Shoals Technologies Group by 3.7% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,055 shares of the company’s stock valued at $274,000 after purchasing an additional 1,147 shares in the last quarter. GAMMA Investing LLC increased its holdings in Shoals Technologies Group by 57.7% in the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after purchasing an additional 1,375 shares in the last quarter. Bank of Montreal Can increased its holdings in Shoals Technologies Group by 5.1% in the 4th quarter. Bank of Montreal Can now owns 33,510 shares of the company’s stock valued at $285,000 after purchasing an additional 1,620 shares in the last quarter. Federated Hermes Inc. increased its holdings in Shoals Technologies Group by 1.1% in the 4th quarter. Federated Hermes Inc. now owns 165,278 shares of the company’s stock valued at $1,405,000 after purchasing an additional 1,812 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Shoals Technologies Group by 0.5% in the 1st quarter. Principal Financial Group Inc. now owns 394,094 shares of the company’s stock valued at $2,593,000 after purchasing an additional 1,883 shares in the last quarter.

Shoals Technologies Group Trading Up 11.3%

SHLS stock opened at $10.33 on Friday. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 51.65, a PEG ratio of 1.13 and a beta of 1.74. The company has a quick ratio of 1.07, a current ratio of 1.84 and a debt-to-equity ratio of 0.30. The business has a fifty day simple moving average of $7.12 and a 200-day simple moving average of $8.30. Shoals Technologies Group has a 52 week low of $3.81 and a 52 week high of $11.36.

Shoals Technologies Group (NASDAQ:SHLS) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.01. The business had revenue of $140.56 million during the quarter, compared to the consensus estimate of $129.16 million. Shoals Technologies Group had a return on equity of 10.03% and a net margin of 6.27%.The firm’s revenue was up 74.4% on a year-over-year basis. On average, equities research analysts expect that Shoals Technologies Group will post 0.34 EPS for the current year.

Shoals Technologies Group Company Profile

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.