The price of Shoals Technologies Group Inc (NASDAQ:SHLS) shares last traded on Wall Street fell -1.40% to $7.03.
SHLS stock price is now -31.03% away from the 50-day moving average and -53.36% away from the 200-day moving average. The market capitalization of the company currently stands at $1.20B.
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With the price target reduced from $15 to $11, TD Cowen maintained Buy rating for Shoals Technologies Group Inc (NASDAQ: SHLS). On May 08, 2024, ROTH MKM Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $15 to quote $8, while ‘TD Cowen’ rates the stock as ‘Outperform’
In other news, Peetz Mehgan, General Counsel sold 3,160 shares of the company’s stock on Mar 08 ’24. The stock was sold for $41,206 at an average price of $13.04. Upon completion of the transaction, the General Counsel now directly owns 105,201 shares in the company, valued at $0.74 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 08 ’24, President TOLNAR JEFFERY sold 2,750 shares of the business’s stock. A total of $35,860 was realized by selling the stock at an average price of $13.04. This leaves the insider owning 96,391 shares of the company worth $0.68 million. A total of 3.70% of the company’s stock is owned by insiders.
During the past 12 months, Shoals Technologies Group Inc has had a low of $6.89 and a high of $28.34. As of last week, the company has a debt-to-equity ratio of 0.30, a current ratio of 2.62, and a quick ratio of 1.87.
The net profit margin was 6.42% and return on equity was 5.75% for SHLS. The company reported revenue of $90.81 million for the quarter, compared to $105.09 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -13.59 percent.
Shoals Technologies Group Inc(SHLS) Company Profile
Shoals Technologies Group, Inc. provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services. It provides EBOS components, including combiners; plug-n-play branch connectors and inline fuses; AC disconnects; recombiners; wireless monitoring; junction boxes; wire management; EV power cabinets; and battery energy storage systems cabinets, as well as cable assemblies, transition enclosures, and splice boxes. In addition, the company offers eMobility solutions, such as a power center, which combines equipment needed to protect the charging equipment and transform voltage levels from the electric utility to those needed on the respective site; quick connect solutions for chargers to connect to the Shoals system; big lead assembly (BLA) technology in the EV space to connect multiple chargers to a single power center; and a raceway system that protects the above ground EV BLAs in walk over and drive over applications. Further, it provides Snapshot IV, a solar operations and maintenance solution that monitors the specific voltage and current of individual solar panels and compares the results against the manufacturer’s projected performance. The company sells its products to engineering, procurement, and construction firms that build solar energy projects; utilities; solar developers, independent power producers; solar module manufacturers; and charge point operators. Shoals Technologies Group, Inc. was founded in 1996 and is headquartered in Portland, Tennessee.
