Investors Buy Large Volume of Put Options on Shoals Technologies Group (NASDAQ:SHLS) – MarketBeat
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Shoals Technologies Group, Inc. (NASDAQ:SHLS – Get Rating) saw unusually large options trading on Wednesday. Stock investors acquired 4,770 put options on the stock. This represents an increase of 261% compared to the average daily volume of 1,320 put options.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the company. Roth Capital raised their price objective on Shoals Technologies Group from $20.00 to $40.00 in a report on Tuesday, August 16th. Guggenheim lowered Shoals Technologies Group from a “buy” rating to a “neutral” rating in a report on Friday, September 9th. They noted that the move was a valuation call. Credit Suisse Group lowered their price target on Shoals Technologies Group from $25.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, July 25th. Northland Securities lowered Shoals Technologies Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 19th. Finally, The Goldman Sachs Group lowered Shoals Technologies Group from a “buy” rating to a “sell” rating and lowered their price objective for the company from $23.00 to $21.00 in a report on Wednesday, September 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Shoals Technologies Group currently has a consensus rating of “Hold” and an average target price of $28.64.
Insider Buying and Selling
In other Shoals Technologies Group news, CEO Jason R. Whitaker sold 8,333 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $26.05, for a total transaction of $217,074.65. Following the transaction, the chief executive officer now directly owns 699,285 shares in the company, valued at $18,216,374.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, General Counsel Mehgan Peetz sold 2,034 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $24.87, for a total value of $50,585.58. Following the sale, the general counsel now directly owns 90,395 shares in the company, valued at $2,248,123.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jason R. Whitaker sold 8,333 shares of the firm’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $26.05, for a total value of $217,074.65. Following the completion of the sale, the chief executive officer now owns 699,285 shares in the company, valued at $18,216,374.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,403 shares of company stock worth $571,282. Company insiders own 1.67% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Standard Family Office LLC bought a new position in shares of Shoals Technologies Group in the first quarter valued at approximately $25,000. Ulland Investment Advisors LLC boosted its holdings in shares of Shoals Technologies Group by 900.0% in the first quarter. Ulland Investment Advisors LLC now owns 1,500 shares of the company’s stock valued at $26,000 after acquiring an additional 1,350 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Shoals Technologies Group during the first quarter valued at approximately $36,000. Captrust Financial Advisors lifted its stake in Shoals Technologies Group by 89.8% during the first quarter. Captrust Financial Advisors now owns 3,162 shares of the company’s stock valued at $54,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new stake in Shoals Technologies Group during the second quarter valued at approximately $55,000. Institutional investors own 63.34% of the company’s stock.
Shoals Technologies Group Stock Up 9.4 %
Shares of Shoals Technologies Group stock traded up $1.85 during trading on Wednesday, reaching $21.53. The company had a trading volume of 26,874 shares, compared to its average volume of 1,402,740. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 558.89 and a beta of 2.01. The firm’s fifty day moving average is $22.79 and its 200-day moving average is $19.62. The company has a debt-to-equity ratio of 32.54, a quick ratio of 1.66 and a current ratio of 2.83. Shoals Technologies Group has a fifty-two week low of $9.58 and a fifty-two week high of $36.86.
Shoals Technologies Group (NASDAQ:SHLS – Get Rating) last released its quarterly earnings data on Monday, August 15th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $73.49 million for the quarter, compared to analyst estimates of $72.89 million. Shoals Technologies Group had a negative return on equity of 709.22% and a net margin of 3.08%. Shoals Technologies Group’s revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.08 EPS. On average, analysts anticipate that Shoals Technologies Group will post 0.22 EPS for the current year.
About Shoals Technologies Group
(Get Rating)
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.
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