Stock Traders Buy Large Volume of Shoals Technologies Group Call Options (NASDAQ:SHLS)

Shoals Technologies Group, Inc. (NASDAQ:SHLS) saw some unusual options trading on Friday. Investors acquired 26,843 call options on the company. This is an increase of 818% compared to the typical daily volume of 2,924 call options.

Insider Buying and Selling at Shoals Technologies Group

In related news, CFO Dominic Bardos sold 54,449 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $8.48, for a total transaction of $461,727.52. Following the transaction, the chief financial officer directly owned 394,979 shares of the company’s stock, valued at approximately $3,349,421.92. This trade represents a 12.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On Shoals Technologies Group

Large investors have recently made changes to their positions in the business. KBC Group NV bought a new stake in shares of Shoals Technologies Group in the 1st quarter worth approximately $30,000. GAMMA Investing LLC grew its position in shares of Shoals Technologies Group by 57.7% in the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock worth $32,000 after buying an additional 1,375 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Shoals Technologies Group in the 4th quarter worth approximately $49,000. PNC Financial Services Group Inc. grew its position in shares of Shoals Technologies Group by 378.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,566 shares of the company’s stock worth $50,000 after buying an additional 5,983 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in shares of Shoals Technologies Group in the 3rd quarter worth approximately $54,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SHLS. TD Cowen reissued a “buy” rating on shares of Shoals Technologies Group in a report on Tuesday, February 24th. Morgan Stanley decreased their price objective on Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating on the stock in a report on Wednesday, February 25th. Needham & Company LLC reissued a “buy” rating and set a $12.00 price objective on shares of Shoals Technologies Group in a report on Wednesday, May 6th. Jefferies Financial Group decreased their price objective on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, March 11th. Finally, BNP Paribas Exane raised Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 price objective on the stock in a report on Wednesday, February 25th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.64.

Shoals Technologies Group Trading Up 12.1%

SHLS traded up $1.13 on Friday, hitting $10.41. 9,114,821 shares of the company were exchanged, compared to its average volume of 5,180,942. The firm has a fifty day simple moving average of $7.03 and a two-hundred day simple moving average of $8.28. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.07 and a current ratio of 1.84. Shoals Technologies Group has a 12 month low of $3.81 and a 12 month high of $11.36. The stock has a market capitalization of $1.74 billion, a PE ratio of 51.95, a price-to-earnings-growth ratio of 1.11 and a beta of 1.74.

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