Shoals Technologies Group (NASDAQ:SHLS) Announces 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. Shoals Technologies Group had a net margin of 7.78% and a return on equity of 9.83%. The company had revenue of $107.00 million during the quarter, compared to analyst estimates of $102.16 million. During the same period in the prior year, the business earned $0.12 EPS. Shoals Technologies Group’s revenue for the quarter was down 17.9% on a year-over-year basis.

Shoals Technologies Group Stock Performance

SHLS traded down $0.39 during trading on Friday, hitting $3.11. The stock had a trading volume of 6,091,526 shares, compared to its average volume of 6,631,168. The firm has a market capitalization of $517.60 million, a P/E ratio of 15.43, a PEG ratio of 0.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.36 and a current ratio of 2.08. Shoals Technologies Group has a twelve month low of $3.10 and a twelve month high of $13.82. The company’s 50-day moving average price is $4.87 and its 200 day moving average price is $5.15.

Analyst Ratings Changes

Several brokerages recently weighed in on SHLS. Morgan Stanley raised shares of Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and set a $7.00 target price on the stock in a report on Tuesday, December 17th. UBS Group reduced their price objective on shares of Shoals Technologies Group from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday. Mizuho lowered their target price on shares of Shoals Technologies Group from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Bank of America initiated coverage on Shoals Technologies Group in a report on Monday, November 25th. They issued a “buy” rating and a $6.00 target price on the stock. Finally, Barclays decreased their price target on Shoals Technologies Group from $5.00 to $4.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Shoals Technologies Group currently has an average rating of “Hold” and an average price target of $8.95.

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.