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Shoals Technologies reported a 4th Quarter December 2021 loss of $0.02 per share on revenue of $48.0 million. The consensus earnings estimate was $0.02 per share on revenue of $46.5 million. Revenue grew 24.0% on a year-over-year basis.
The company said it expects first quarter revenue of $68.0 million to $74.0 million and 2022 revenue of $300.0 million to $350.0 million. The current consensus revenue estimate is $73.46 million for the quarter ending March 31, 2022 and revenue of $353.97 million for the year ending December 31, 2022.
Shoals Technologies is a leading provider of electrical balance of systems (“EBOS”) solutions for solar, storage, and electric vehicle charging infrastructure. Since its founding in 1996, the Company has introduced innovative technologies and systems solutions that allow its customers to substantially increase installation efficiency and safety while improving system performance and reliability.
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Since 11.03.2022 the stock is consolidating within an area ranging from $18.94 - $16.73.
WHAT DO I EXPECT NEXT?
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I can imagine that the Shoals Technology stock will continue to consolidate within the range and might break out of its consolidation channel as soon as the entire market has strength. If the stock moves above $18.94 with higher than average volume, it might be beneficial to buy the stock. When the stock price closes below its temporary low at $16.73 the trading scenario is invalid.
What are your thoughts? Leave a comment down below 👇
🚫 No investment advice, I am just displaying my personal opinion which might be wrong!
