Shoals Technologies Group (NASDAQ:SHLS) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.08 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 firm 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 company earned $0.12 earnings per share. The business's quarterly revenue was down 17.9% compared to the same quarter last year.

Shoals Technologies Group Trading Down 12.9 %

Shoals Technologies Group stock traded down $0.45 during trading hours on Friday, hitting $3.03. The stock had a trading volume of 14,159,211 shares, compared to its average volume of 6,855,297. 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 $505.10 million, a price-to-earnings ratio of 15.15, a P/E/G ratio of 0.52 and a beta of 1.62. Shoals Technologies Group has a one year low of $2.91 and a one year high of $13.82. The business's 50 day simple moving average is $4.83 and its 200-day simple moving average is $5.13.

Analyst Ratings Changes

A number of research analysts have commented on the company. Mizuho decreased their price objective on Shoals Technologies Group from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. JPMorgan Chase & Co. decreased their price objective on Shoals Technologies Group from $11.00 to $10.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. Morgan Stanley raised 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. The Goldman Sachs Group reduced their target price on Shoals Technologies Group from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Roth Mkm reduced their target price on Shoals Technologies Group from $5.00 to $4.50 and set a "neutral" rating on the stock in a report on Wednesday. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, 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.