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

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

Shares of Shoals Technologies Group stock traded down $2.04 during trading on Tuesday, reaching $29.13. The stock had a trading volume of 57,603 shares, compared to its average volume of 2,104,619. The business’s fifty day simple moving average is $33.46. Shoals Technologies Group has a 52 week low of $28.17 and a 52 week high of $44.04.

SHLS has been the subject of a number of research analyst reports. Barclays reaffirmed an “equal weight” rating and issued a $35.00 price target (down from $49.00) on shares of Shoals Technologies Group in a report on Wednesday, April 28th. UBS Group began coverage on shares of Shoals Technologies Group in a research report on Monday, March 1st. They issued a “buy” rating and a $48.00 price objective for the company. Guggenheim began coverage on Shoals Technologies Group in a research report on Monday, March 1st. They issued a “buy” rating and a $48.00 price objective on the stock. Credit Suisse Group assumed coverage on Shoals Technologies Group in a research note on Monday, March 1st. They set a “neutral” rating and a $40.00 price target on the stock. Finally, Cowen dropped their price objective on Shoals Technologies Group from $40.00 to $31.00 and set a “market perform” rating 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’s stock. The company has an average 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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