Monitoring Shoals Technologies Group Inc. (SHLS) after recent insider movements


Shoals Technologies Group Inc.’s recently made public that its Chief Executive Officer Whitaker Jason R unloaded Company’s shares for reported $0.3 million on Feb 13. In the deal valued at $25.07 per share,12,039 shares were sold. As a result of this transaction, Whitaker Jason R now holds 464,972 shares worth roughly $ 10.98 million.

From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio

The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.

Get our free report, "Top 5 AI Stocks to Buy for 2023".


Then, Whitaker Jason R sold 6,009 shares, generating $146,826 in total proceeds. Upon selling the shares at $24.43, the Chief Executive Officer now owns 477,011 shares.

Before that, Whitaker Jason R sold 12,032 shares. Shoals Technologies Group Inc. shares valued at $340,265 were divested by the Chief Executive Officer at a price of $28.28 per share. As a result of the transaction, Whitaker Jason R now holds 483,020 shares, worth roughly $11.4 million.

Cantor Fitzgerald initiated its Shoals Technologies Group Inc. [SHLS] rating to a Neutral in a research note published on Friday, January 25, 2023; the price target was $30. PT values the company’s stock at a premium of 21.3 to its Friday closing price. A number of analysts have revised their coverage, including Northland Capital’s analysts, who increased its forecast for the stock in mid November from “a Market perform” to “an Outperform”. Cowen also remained covering SHLS and has increased its forecast on September 16, 2022 with a “an Outperform” recommendation from previously “Market perform” rating. Guggenheim revised its rating on September 09, 2022. It rated SHLS as “a Neutral” which previously was an “a Buy”.

Price Performance Review of SHLS

On Friday, Shoals Technologies Group Inc. [NASDAQ:SHLS] saw its stock fall -2.92% to $23.61. On the same session, the stock had its day’s lowest price of $23.10, but rose to a high of $24.12. Over the last five days, the stock has lost -9.49%. Shoals Technologies Group Inc. shares have fallen nearly -4.30% since the year began. Nevertheless, the stocks have risen 96.75% over the past one year. While a 52-week high of $32.43 was reached on 01/24/23, a 52-week low of $9.58 was recorded on 01/10/23. SMA at 50 days reached $25.92, while 200 days put it at $22.47. A total of 2.03 million shares were traded, compared to the trading of 1.23 million shares in the previous session.

Levels Of Support And Resistance For SHLS Stock

The 24-hour chart illustrates a support level at 23.10, which if violated will result in even more drops to 22.59. On the upside, there is a resistance level at 24.12. A further resistance level may holdings at 24.63. The Relative Strength Index (RSI) on the 14-day chart is 40.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.44, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 90.02%. Stochastics %K at 11.45% indicates the stock is a buying.

How much short interest is there in Shoals Technologies Group Inc.?

A steep rise in short interest was recorded in Shoals Technologies Group Inc. stocks on Jan 12, 2023, dropping by -2.28 million shares to a total of 6.08 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 8.36 million shares. There was a decline of -37.5%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.44% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.71.

Shoals Technologies Group Inc. [SHLS] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 9,880,652 shares, or roughly 8.71% of the outstanding SHLS shares. In other words, the investor’s shares have risen by 170,636 from its previous 13-F filing of 9710016.0. Additionally, The Vanguard Group, Inc. increased 39.80% of its stake after which the total value it holdings stand at $251,569,808, while T. Rowe Price Investment Manageme reduced -28.68% of its stake to hold $192.06 million in the firm. Over the last quarter, ClearBridge Investments LLC purchased 165,347 shares of Shoals Technologies Group Inc., while AllianceBernstein LP bought 5,128,195 shares. At present, Invesco Capital Management LLC is holding 3,793,371 shares valued at $105.8 million. William Blair Investment Manageme owned 3,743,702 shares of the company at the time of its most recent 13F filing, worth $104.41 million.


Please enter your comment!
Please enter your name here