Shoals Technologies Group (NASDAQ:SHLS) Posts Earnings Results, Beats Expectations By $0.01 EPS


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Shoals Technologies Group (NASDAQ:SHLS) issued its quarterly earnings results on Sunday. The company reported $0.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01, Fidelity Earnings reports.

NASDAQ:SHLS traded down $1.70 during trading hours on Tuesday, reaching $29.47. 2,011,788 shares of the company were exchanged, compared to its average volume of 2,103,781. Shoals Technologies Group has a twelve month low of $28.17 and a twelve month high of $44.04. The stock has a 50-day moving average of $33.38.

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Shoals Technologies Group from $44.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, March 8th. Johnson Rice began coverage on Shoals Technologies Group in a report on Monday, March 29th. They set a “buy” rating and a $43.00 target price on the stock. Roth Capital started coverage on Shoals Technologies Group in a research report on Wednesday, March 17th. They set a “buy” rating and a $38.00 price target for the company. The Goldman Sachs Group assumed coverage on Shoals Technologies Group in a research report on Monday, February 22nd. They issued a “neutral” rating and a $30.00 price objective on the stock. Finally, Zacks Investment Research raised shares of Shoals Technologies Group from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Shoals Technologies Group has a consensus rating of “Buy” and a consensus target price of $38.92.

Shoals Technologies Group Company Profile

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It offers EBOS components, such as cable assemblies, inline fuses, combiners, recombiners, disconnects, wireless monitoring systems, junction boxes, transition enclosures, and splice boxes that carry the electric current produced by solar panels to an inverter and to the power grid.

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