Shoals Technologies Group (SHLS) Scheduled to Post Earnings on Monday – MarketBeat

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Shoals Technologies Group (NASDAQ:SHLS – Get Rating) will announce its earnings results after the market closes on Monday, November 14th. Analysts expect the company to announce earnings of $0.07 per share for the quarter. Shoals Technologies Group has set its FY 2022 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.
Shoals Technologies Group (NASDAQ:SHLS – Get Rating) last announced its earnings results on Monday, August 15th. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The company had revenue of $73.49 million for the quarter, compared to analyst estimates of $72.89 million. Shoals Technologies Group had a negative return on equity of 709.22% and a net margin of 3.08%. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period last year, the firm earned $0.08 earnings per share. On average, analysts expect Shoals Technologies Group to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shoals Technologies Group Stock Down 1.3 %

NASDAQ:SHLS opened at $22.80 on Friday. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 570.14 and a beta of 2.01. Shoals Technologies Group has a 1-year low of $9.58 and a 1-year high of $36.86. The company has a current ratio of 2.83, a quick ratio of 1.66 and a debt-to-equity ratio of 32.54. The business’s fifty day moving average price is $22.47 and its 200 day moving average price is $19.80.

Analyst Ratings Changes

Several analysts have recently issued reports on SHLS shares. Cowen upgraded Shoals Technologies Group from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $29.00 to $37.50 in a research note on Friday, September 16th. Roth Capital upped their price target on Shoals Technologies Group from $20.00 to $40.00 in a report on Tuesday, August 16th. JPMorgan Chase & Co. dropped their target price on Shoals Technologies Group from $35.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, October 20th. Cowen raised Shoals Technologies Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $29.00 to $37.50 in a report on Friday, September 16th. Finally, Truist Financial raised their price target on Shoals Technologies Group from $25.00 to $30.00 and gave the company a “buy” rating in a report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.64.

Insider Buying and Selling at Shoals Technologies Group

In other news, CEO Jason R. Whitaker sold 8,333 shares of the company’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $26.05, for a total transaction of $217,074.65. Following the completion of the transaction, the chief executive officer now directly owns 699,285 shares in the company, valued at $18,216,374.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Jason R. Whitaker sold 8,333 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $26.05, for a total value of $217,074.65. Following the sale, the chief executive officer now owns 699,285 shares of the company’s stock, valued at $18,216,374.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Mehgan Peetz sold 2,034 shares of the company’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $24.87, for a total transaction of $50,585.58. Following the sale, the general counsel now directly owns 90,395 shares in the company, valued at approximately $2,248,123.65. The disclosure for this sale can be found here. Insiders sold a total of 22,403 shares of company stock worth $571,282 over the last three months. Corporate insiders own 1.67% of the company’s stock.

Institutional Investors Weigh In On Shoals Technologies Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC purchased a new stake in Shoals Technologies Group in the 1st quarter valued at about $36,000. Captrust Financial Advisors boosted its holdings in Shoals Technologies Group by 89.8% in the 1st quarter. Captrust Financial Advisors now owns 3,162 shares of the company’s stock valued at $54,000 after purchasing an additional 1,496 shares during the period. US Bancorp DE boosted its holdings in Shoals Technologies Group by 700.2% in the 1st quarter. US Bancorp DE now owns 6,450 shares of the company’s stock valued at $110,000 after purchasing an additional 5,644 shares during the period. Cresset Asset Management LLC bought a new position in Shoals Technologies Group in the 1st quarter valued at $173,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Shoals Technologies Group during the 1st quarter valued at $196,000. Institutional investors and hedge funds own 63.34% of the company’s stock.

Shoals Technologies Group Company Profile

(Get Rating)
Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions for solar energy projects in the United States. It produces EBOS components, including cable assemblies, inline fuses, combiners, disconnects, recombiners, wireless monitoring systems, junction boxes, transition enclosures, splice boxes, wire management solutions, and IV curve benchmarking devices.

Featured Articles

Earnings History for Shoals Technologies Group (NASDAQ:SHLS)
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