SHLS Stock Price Increases Over 7% Pre-Market: Why It Happened

By Amit Chowdhry ● February 23, 2021
  • The stock price of Shoals Technologies Group Inc (NASDAQ: SHLS) is trading up over 7% pre-market as of 4 AM ET. This is why it happened.

The stock price of Shoals Technologies Group Inc (NASDAQ: SHLS) is trading up over 7% pre-market as of 4 AM ET. Investors appear to be responding to research reports from a number of brokerages.

One of the most bullish reports was from UBS. UBS analyst Jon Windham had initiated coverage of Shoals Technologies with a Buy rating and $48 price target. 

Windham cited the company’s unique exposure to increasing utility-scale solar deployments as a key component supplier of electrical balance of system products along with upside from product launches that target the storage and EV charging infrastructure build-outs. Windham is expecting an “attractive” 33% CAGR revenue growth rate for Shoals between 2021 and 2025, according to The Fly.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.