Shoals Technologies Group (NASDAQ:SHLS) Posts Quarterly Earnings Results

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

Shoals Technologies Group Trading Down 5.3 %

Shares of SHLS traded down $0.23 during midday trading on Wednesday, reaching $4.05. The company had a trading volume of 3,249,447 shares, compared to its average volume of 6,553,360. The company has a quick ratio of 1.36, a current ratio of 2.08 and a debt-to-equity ratio of 0.26. The stock has a market cap of $674.30 million, a PE ratio of 20.29, a price-to-earnings-growth ratio of 0.52 and a beta of 1.62. The firm has a 50 day simple moving average of $4.90 and a 200-day simple moving average of $5.17. Shoals Technologies Group has a 1-year low of $3.73 and a 1-year high of $16.19.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Mizuho cut their target price on shares of Shoals Technologies Group from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Royal Bank of Canada reduced their price objective on shares of Shoals Technologies Group from $9.00 to $7.00 and set an “outperform” rating for the company in a research note on Wednesday. Guggenheim reduced their target price on Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Wolfe Research initiated coverage on shares of Shoals Technologies Group in a research note on Tuesday, February 18th. They set a “peer perform” rating on the stock. Finally, Barclays lowered their price target on Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.05.

About Shoals Technologies Group

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.