Shoals Technologies Group, Inc. (NASDAQ:SHLS) President Sells $70,534.75 in Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Rating) President Jeffery Tolnar sold 3,575 shares of the company’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $19.73, for a total transaction of $70,534.75. Following the completion of the transaction, the president now directly owns 66,044 shares in the company, valued at approximately $1,303,048.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shoals Technologies Group Stock Up 1.5 %

SHLS stock opened at $20.11 on Friday. The company’s 50 day moving average price is $25.48 and its 200 day moving average price is $24.63. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.53 and a current ratio of 2.92. Shoals Technologies Group, Inc. has a fifty-two week low of $9.58 and a fifty-two week high of $32.43. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 24.23 and a beta of 2.17.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SHLS. Citigroup initiated coverage on shares of Shoals Technologies Group in a research report on Thursday, March 9th. They issued a “buy” rating and a $34.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Shoals Technologies Group from $35.00 to $36.00 in a research report on Thursday, December 8th. TheStreet cut shares of Shoals Technologies Group from a “c-” rating to a “d+” rating in a research report on Thursday, February 9th. Morgan Stanley reduced their price target on shares of Shoals Technologies Group from $36.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 10th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $29.00 price target on shares of Shoals Technologies Group in a research report on Monday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $31.03.

Institutional Trading of Shoals Technologies Group

A number of large investors have recently made changes to their positions in the company. MetLife Investment Management LLC increased its stake in Shoals Technologies Group by 1.3% in the third quarter. MetLife Investment Management LLC now owns 59,744 shares of the company’s stock valued at $1,287,000 after purchasing an additional 751 shares during the last quarter. Green Alpha Advisors LLC increased its stake in Shoals Technologies Group by 2.0% in the fourth quarter. Green Alpha Advisors LLC now owns 42,141 shares of the company’s stock valued at $1,040,000 after purchasing an additional 826 shares during the last quarter. Royal Bank of Canada increased its stake in Shoals Technologies Group by 7.6% in the third quarter. Royal Bank of Canada now owns 11,789 shares of the company’s stock valued at $253,000 after purchasing an additional 836 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Shoals Technologies Group by 7.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,222 shares of the company’s stock valued at $376,000 after purchasing an additional 1,030 shares during the last quarter. Finally, Raymond James & Associates increased its stake in Shoals Technologies Group by 1.1% in the first quarter. Raymond James & Associates now owns 90,966 shares of the company’s stock valued at $1,550,000 after purchasing an additional 1,034 shares during the last quarter. 81.94% of the stock is currently owned by hedge funds and other institutional investors.

Shoals Technologies Group Company Profile

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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.