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


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

Shares of NASDAQ SHLS traded down $1.70 during trading on Tuesday, hitting $29.47. 97,726 shares of the company traded hands, compared to its average volume of 2,104,619. Shoals Technologies Group has a 1 year low of $28.17 and a 1 year high of $44.04. The stock has a 50-day moving average of $33.46.

SHLS has been the subject of several research reports. Guggenheim initiated coverage on Shoals Technologies Group in a research report on Monday, March 1st. They set a “buy” rating and a $48.00 price objective for the company. Oppenheimer assumed coverage on Shoals Technologies Group in a report on Monday, February 22nd. They issued an “outperform” rating and a $46.00 price target for the company. Cowen cut their price target on Shoals Technologies Group from $40.00 to $31.00 and set a “market perform” rating for the company in a report on Tuesday. The Goldman Sachs Group assumed coverage on Shoals Technologies Group in a report on Monday, February 22nd. They issued a “neutral” rating and a $30.00 price target for the company. Finally, Morgan Stanley cut their price target on Shoals Technologies Group from $41.00 to $32.00 and set an “equal weight” rating for the company in a report on Tuesday, March 16th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Shoals Technologies Group presently has an average rating of “Buy” and a consensus 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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