Investors Purchase High Volume of Call Options on Shoals Technologies Group (NASDAQ:SHLS)

Shoals Technologies Group, Inc. (NASDAQ:SHLS) saw unusually large options trading activity on Wednesday. Stock traders purchased 10,067 call options on the stock. This is an increase of approximately 365% compared to the average daily volume of 2,167 call options.

Shoals Technologies Group Price Performance

Shares of SHLS stock opened at $6.04 on Friday. The firm has a fifty day simple moving average of $8.46 and a 200-day simple moving average of $8.51. The company has a market capitalization of $1.01 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 0.85 and a beta of 1.77. Shoals Technologies Group has a twelve month low of $2.92 and a twelve month high of $11.36. 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 (NASDAQ:SHLS) last released its quarterly earnings results on Tuesday, February 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.04). The firm had revenue of $148.33 million for the quarter, compared to analysts’ expectations of $144.52 million. Shoals Technologies Group had a return on equity of 9.10% and a net margin of 7.06%.The business’s quarterly revenue was up 38.6% on a year-over-year basis. During the same period last year, the firm earned $0.08 EPS. Equities research analysts anticipate that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. GAMMA Investing LLC grew its stake in Shoals Technologies Group by 57.7% during the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after purchasing an additional 1,375 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Shoals Technologies Group in the 4th quarter valued at approximately $49,000. State of Alaska Department of Revenue purchased a new position in shares of Shoals Technologies Group during the 3rd quarter valued at approximately $54,000. CIBC Asset Management Inc acquired a new stake in shares of Shoals Technologies Group during the fourth quarter worth approximately $85,000. Finally, Cibc World Markets Corp bought a new stake in shares of Shoals Technologies Group in the fourth quarter worth $95,000.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SHLS shares. Wall Street Zen lowered shares of Shoals Technologies Group from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. UBS Group cut their price objective on Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Morgan Stanley reduced their price objective on Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating on the stock in a research note on Wednesday, February 25th. Jefferies Financial Group decreased their target price on Shoals Technologies Group from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. Finally, BNP Paribas Exane upgraded Shoals Technologies Group from an “underperform” rating to a “neutral” rating and set a $9.00 target price for the company in a research note on Wednesday, February 25th. Ten investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.57.

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.