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

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

Shoals Technologies Group stock traded down $1.70 during mid-day trading on Tuesday, reaching $29.47. 2,011,788 shares of the company were exchanged, compared to its average volume of 2,103,781. The firm’s fifty day simple moving average is $33.38. Shoals Technologies Group has a 12 month low of $28.17 and a 12 month high of $44.04.

A number of research analysts recently weighed in on SHLS shares. Credit Suisse Group began coverage on Shoals Technologies Group in a report on Monday, March 1st. They set a “neutral” rating and a $40.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Shoals Technologies Group in a report on Monday, February 22nd. They issued a “neutral” rating and a $30.00 price objective on the stock. Oppenheimer assumed coverage on shares of Shoals Technologies Group in a research report on Monday, February 22nd. They issued an “outperform” rating and a $46.00 price objective on the stock. Roth Capital began coverage on shares of Shoals Technologies Group in a research note on Wednesday, March 17th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Zacks Investment Research raised shares of 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. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $38.92.

About Shoals Technologies Group

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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