Shoals Technologies Group (NASDAQ:SHLS – Get Rating) is scheduled to post its quarterly earnings results after the market closes on Tuesday, February 28th. Analysts expect Shoals Technologies Group to post earnings of $0.09 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.
Shoals Technologies Group Trading Down 1.2 %
Shares of SHLS stock opened at $25.77 on Tuesday. The company has a debt-to-equity ratio of 12.13, a current ratio of 2.60 and a quick ratio of 1.45. The stock’s 50 day simple moving average is $26.07 and its two-hundred day simple moving average is $24.87. Shoals Technologies Group has a 1 year low of $9.58 and a 1 year high of $32.43. The company has a market cap of $4.31 billion, a PE ratio of 286.37 and a beta of 2.14.
Wall Street Analysts Forecast Growth
Several research analysts have commented on SHLS shares. Oppenheimer raised their price objective on Shoals Technologies Group to $41.00 in a report on Thursday, November 17th. JPMorgan Chase & Co. raised their target price on Shoals Technologies Group from $35.00 to $36.00 in a research note on Thursday, December 8th. The Goldman Sachs Group raised their target price on Shoals Technologies Group from $18.00 to $20.00 and gave the stock a “sell” rating in a research note on Tuesday, November 15th. Credit Suisse Group lifted their price objective on Shoals Technologies Group from $26.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday, January 17th. Finally, Cowen cut their price target on Shoals Technologies Group from $37.50 to $35.00 and set an “outperform” rating for the company in a research note on Friday, January 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.10.
Insiders Place Their Bets
In other Shoals Technologies Group news, CEO Jason R. Whitaker sold 12,039 shares of Shoals Technologies Group stock in a transaction on Monday, February 13th. The shares were sold at an average price of $25.07, for a total value of $301,817.73. Following the transaction, the chief executive officer now owns 464,972 shares in the company, valued at approximately $11,656,848.04. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Jason R. Whitaker sold 12,039 shares of Shoals Technologies Group stock in a transaction on Monday, February 13th. The shares were sold at an average price of $25.07, for a total transaction of $301,817.73. Following the transaction, the chief executive officer now owns 464,972 shares in the company, valued at approximately $11,656,848.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Dean Solon sold 564,668 shares of Shoals Technologies Group stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $21.47, for a total transaction of $12,123,421.96. Following the sale, the insider now directly owns 62,500 shares in the company, valued at approximately $1,341,875. The disclosure for this sale can be found here. In the last three months, insiders sold 631,854 shares of company stock valued at $13,924,623. Company insiders own 1.67% of the company’s stock.
Institutional Investors Weigh In On Shoals Technologies Group
Institutional investors have recently modified their holdings of the business. MetLife Investment Management LLC bought a new stake in shares of Shoals Technologies Group during the 1st quarter valued at about $36,000. Toroso Investments LLC bought a new stake in shares of Shoals Technologies Group during the 3rd quarter valued at about $44,000. Captrust Financial Advisors grew its position in shares of Shoals Technologies Group by 89.8% during the 1st quarter. Captrust Financial Advisors now owns 3,162 shares of the company’s stock valued at $54,000 after buying an additional 1,496 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Shoals Technologies Group by 562.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,252 shares of the company’s stock valued at $80,000 after buying an additional 2,761 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of Shoals Technologies Group by 700.2% during the 1st quarter. US Bancorp DE now owns 6,450 shares of the company’s stock valued at $110,000 after buying an additional 5,644 shares during the last quarter. Institutional investors own 81.94% of the company’s stock.
About Shoals Technologies Group
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.