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

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Shoals Technologies Group (NASDAQ:SHLS) posted its earnings results on Sunday. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01, Fidelity Earnings reports.

SHLS stock traded down $1.70 during trading on Tuesday, reaching $29.47. 97,726 shares of the company traded hands, compared to its average volume of 2,104,619. Shoals Technologies Group has a 12 month low of $28.17 and a 12 month high of $44.04. The company’s 50 day moving average price is $33.46.

Several analysts recently weighed in on the company. Cowen decreased their price target on Shoals Technologies Group from $40.00 to $31.00 and set a “market perform” rating on the stock in a report on Tuesday. Johnson Rice assumed coverage on Shoals Technologies Group in a report on Monday, March 29th. They set a “buy” rating and a $43.00 price target on the stock. Zacks Investment Research upgraded Shoals Technologies Group from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Tuesday. Barclays restated an “equal weight” rating and set a $35.00 price target (down previously from $49.00) on shares of Shoals Technologies Group in a report on Wednesday, April 28th. Finally, Roth Capital started coverage on Shoals Technologies Group in a research note on Wednesday, March 17th. They issued a “buy” rating and a $38.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target 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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