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

Shoals Technologies Group, Inc. (NASDAQ:SHLS) was the recipient of some unusual options trading on Thursday. Investors bought 10,780 call options on the company. This is an increase of approximately 207% compared to the average daily volume of 3,506 call options.

Shoals Technologies Group Trading Up 12.4%

NASDAQ:SHLS opened at $8.91 on Friday. Shoals Technologies Group has a 1 year low of $2.71 and a 1 year high of $9.22. The stock’s fifty day moving average price is $6.39 and its two-hundred day moving average price is $5.14. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.34 and a quick ratio of 1.64. The company has a market cap of $1.49 billion, a P/E ratio of 68.54, a P/E/G ratio of 0.97 and a beta of 1.65.

Shoals Technologies Group (NASDAQ:SHLS) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The business had revenue of $110.84 million for the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter in the prior year, the firm posted $0.10 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts expect that Shoals Technologies Group will post 0.29 EPS for the current year.

Analysts Set New Price Targets

SHLS has been the topic of several research reports. Barclays upgraded shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $7.00 to $10.00 in a report on Thursday. Guggenheim increased their price target on Shoals Technologies Group from $6.00 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. JPMorgan Chase & Co. increased their target price on shares of Shoals Technologies Group from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, September 19th. The Goldman Sachs Group increased their price objective on shares of Shoals Technologies Group from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. Finally, Jefferies Financial Group increased their price target on Shoals Technologies Group from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Fourteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.40.

Institutional Trading of Shoals Technologies Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in Shoals Technologies Group by 449.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock worth $31,000 after acquiring an additional 5,910 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Shoals Technologies Group in the first quarter worth approximately $43,000. MQS Management LLC bought a new position in shares of Shoals Technologies Group in the first quarter worth approximately $43,000. Caitong International Asset Management Co. Ltd bought a new stake in Shoals Technologies Group during the first quarter valued at approximately $44,000. Finally, Virtu Financial LLC purchased a new position in Shoals Technologies Group in the 1st quarter worth approximately $46,000.

Shoals Technologies Group 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.