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

Shoals Technologies Group, Inc. (NASDAQ:SHLS) was the target of some unusual options trading activity on Wednesday. Investors purchased 10,067 call options on the stock. This represents an increase of 365% compared to the typical volume of 2,167 call options.

Analyst Ratings Changes

SHLS has been the topic of a number of research analyst reports. BNP Paribas Exane raised shares of Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 price target on the stock in a report on Wednesday, February 25th. Roth Mkm dropped their price objective on shares of Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Shoals Technologies Group in a research report on Friday, January 9th. UBS Group reduced their target price on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Finally, Zacks Research lowered Shoals Technologies Group from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 19th. Ten analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.57.

Institutional Investors Weigh In On Shoals Technologies Group

A number of large investors have recently made changes to their positions in SHLS. GAMMA Investing LLC grew its stake in Shoals Technologies Group by 57.7% in the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after purchasing an additional 1,375 shares during the period. USA Financial Formulas purchased a new position in Shoals Technologies Group during the fourth quarter valued at $49,000. Savant Capital LLC bought a new stake in shares of Shoals Technologies Group during the 2nd quarter valued at $50,000. State of Alaska Department of Revenue purchased a new stake in shares of Shoals Technologies Group in the 3rd quarter worth about $54,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Shoals Technologies Group in the 1st quarter worth about $57,000.

Shoals Technologies Group Price Performance

SHLS stock opened at $5.95 on Thursday. The stock has a market capitalization of $996.33 million, a price-to-earnings ratio of 29.75, a PEG ratio of 0.88 and a beta of 1.77. The firm’s 50-day moving average price is $8.51 and its two-hundred day moving average price is $8.53. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. Shoals Technologies Group has a 12-month low of $2.92 and a 12-month high of $11.36.

Shoals Technologies Group (NASDAQ:SHLS) last posted its earnings results on Tuesday, February 24th. The company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). Shoals Technologies Group had a return on equity of 9.10% and a net margin of 7.06%.The firm had revenue of $148.33 million for the quarter, compared to analysts’ expectations of $144.52 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The business’s revenue for the quarter was up 38.6% on a year-over-year basis. As a group, equities analysts predict that Shoals Technologies Group will post 0.29 earnings per share for the current year.

About Shoals Technologies Group

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.