Shoals Technologies Group Inc (SHLS)

Shares of Shoals technologies Group (SHLS) dropped by 10.04% from $16.23 to $14.60 in the trading on Wednesday, Novemeber 8, 2023. The reason why SHLS down is due to company's Q3 earnings report, in which Shoals reported a loss of $9.8 million, equivalent to 6 cents per share. However, when adjusted for one-time gains and costs, the earnings amounted to 20 cents per share, surpassing the average estimate of 16 cents per share by Wall Street analysts surveyed by Zacks Investment Research. Despite the positive earnings surprise, the company's revenue of $134.2 million fell short of Street forecasts, with expectations set at $136.7 million. Shoals Technologies Group anticipates full-year revenue to range between $485 million and $495 million.

Shoals Technologies Group (SHLS) dropped by 9.15% from $16.62 to $15.10 in the trading on Thursday October 5, 2023. The reason why SHLS stock down is due to the recent downgrades. Truist analyst Jordan Levy lowered the firm’s price target on Shoals Technologies to $25 from $30 but keeps a Buy rating on the shares. In addition, Northland Capital Markets downgraded the previous rating for SHLS stock from Outperform to Market Perform.