Shoals Technologies Group (NASDAQ:SHLS) Posts Earnings Results, Beats Expectations By $0.01 EPS
Shoals Technologies Group (NASDAQ:SHLS) issued its quarterly earnings data on Sunday. The company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.01, Fidelity Earnings reports.
Shoals Technologies Group stock traded down $1.96 during trading hours on Tuesday, reaching $29.21. 74,598 shares of the company’s stock were exchanged, compared to its average volume of 2,104,619. Shoals Technologies Group has a twelve month low of $28.17 and a twelve month high of $44.04. The stock’s 50 day moving average price is $33.46.
Several research firms recently weighed in on SHLS. The Goldman Sachs Group began coverage on shares of Shoals Technologies Group in a research note on Monday, February 22nd. They set a “neutral” rating and a $30.00 target price for the company. JPMorgan Chase & Co. decreased their price target on Shoals Technologies Group from $44.00 to $40.00 and set an “overweight” rating for the company in a research note on Monday, March 8th. Johnson Rice assumed coverage on shares of Shoals Technologies Group in a report on Monday, March 29th. They issued a “buy” rating and a $43.00 price target for the company. 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 research note on Wednesday, April 28th. Finally, Oppenheimer began coverage on shares of Shoals Technologies Group in a report on Monday, February 22nd. They issued an “outperform” rating and a $46.00 price objective on the stock. Five 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 a consensus price target of $38.92.
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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