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

Shoals Technologies Group (NASDAQ:SHLS) released its quarterly earnings results on Wednesday. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01), Briefing.com reports. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company had revenue of $107.00 million during the quarter, compared to the consensus estimate of $102.16 million. During the same quarter last year, the firm earned $0.12 EPS. The business’s revenue was down 17.9% on a year-over-year basis.

Shoals Technologies Group Stock Performance

NASDAQ:SHLS opened at $3.80 on Thursday. Shoals Technologies Group has a 12-month low of $3.72 and a 12-month high of $16.19. The company has a current ratio of 2.08, a quick ratio of 1.36 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $632.62 million, a P/E ratio of 18.93, a P/E/G ratio of 0.52 and a beta of 1.62. The stock has a 50-day moving average price of $4.89 and a 200 day moving average price of $5.16.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SHLS shares. Bank of America started coverage on shares of Shoals Technologies Group in a research report on Monday, November 25th. They set a “buy” rating and a $6.00 price target on the stock. Royal Bank of Canada reduced their target price on Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating on the stock in a report on Wednesday. The Goldman Sachs Group lowered their target price on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday. Truist Financial dropped their price target on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Guggenheim decreased their price objective on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $8.95.

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.