Shoals Technologies Group, Inc. (NASDAQ:SHLS) CEO Jason R. Whitaker Sells 3,008 Shares of Stock

Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Rating) CEO Jason R. Whitaker sold 3,008 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $24.59, for a total transaction of $73,966.72. Following the completion of the sale, the chief executive officer now directly owns 461,964 shares in the company, valued at $11,359,694.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shoals Technologies Group Stock Performance

Shares of NASDAQ SHLS opened at $26.58 on Tuesday. Shoals Technologies Group, Inc. has a one year low of $9.58 and a one year high of $32.43. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.92 and a quick ratio of 1.53. The company has a market capitalization of $4.45 billion, a P/E ratio of 32.02 and a beta of 2.17. The business’s 50-day moving average price is $25.84 and its two-hundred day moving average price is $24.84.

Institutional Trading of Shoals Technologies Group

Institutional investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC lifted its holdings in shares of Shoals Technologies Group by 4.6% during the 2nd quarter. Los Angeles Capital Management LLC now owns 14,702 shares of the company’s stock worth $242,000 after acquiring an additional 652 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Shoals Technologies Group by 1.3% in the 3rd quarter. MetLife Investment Management LLC now owns 59,744 shares of the company’s stock worth $1,287,000 after acquiring an additional 751 shares during the last quarter. Green Alpha Advisors LLC increased its position in Shoals Technologies Group by 2.0% during the 4th 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 period. Royal Bank of Canada grew its position in Shoals Technologies Group by 7.6% during the 3rd 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. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Shoals Technologies Group by 7.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,222 shares of the company’s stock valued at $376,000 after acquiring an additional 1,030 shares during the period. Institutional investors own 81.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SHLS shares. Piper Sandler increased their target price on shares of Shoals Technologies Group from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 15th. Truist Financial upped their price objective on shares of Shoals Technologies Group from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Barclays upped their price objective on shares of Shoals Technologies Group from $25.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 16th. Credit Suisse Group reiterated an “outperform” rating and issued a $29.00 target price on shares of Shoals Technologies Group in a report on Monday. Finally, Morgan Stanley lowered their target price on shares of Shoals Technologies Group from $36.00 to $32.00 and set an “equal weight” rating for the company in a report on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $31.03.

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.