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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01, Fidelity Earnings reports.

Shares of SHLS traded down $1.70 during trading hours on Tuesday, hitting $29.47. The company had a trading volume of 97,726 shares, compared to its average volume of 2,104,619. The company’s fifty day moving average is $33.46. Shoals Technologies Group has a 52-week low of $28.17 and a 52-week high of $44.04.

A number of equities research analysts recently issued reports on SHLS shares. Roth Capital started coverage on Shoals Technologies Group in a research report on Wednesday, March 17th. They issued a “buy” rating and a $38.00 price objective on the stock. Oppenheimer began coverage on Shoals Technologies Group in a research report on Monday, February 22nd. They set an “outperform” rating and a $46.00 price target on the stock. Guggenheim began coverage on Shoals Technologies Group in a research report on Monday, March 1st. They set a “buy” rating and a $48.00 price target on the stock. 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 report on Wednesday, April 28th. Finally, UBS Group began coverage on Shoals Technologies Group in a research report on Monday, March 1st. They set a “buy” rating and a $48.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Shoals Technologies Group has an average rating of “Buy” and a consensus target price 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.

Further Reading: Google Finance

Receive News & Ratings for Shoals Technologies Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shoals Technologies Group and related companies with MarketBeat.com's FREE daily email newsletter.