Long Position on SHLS @ $26.15 on 9/13/2022 (Momentum)

Shoals Technologies Group, Inc. (SHLS) 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.

The company also sells EV Charging solutions for public and fleet electric vehicle charging stations; and EBOS systems. It sells its products principally to engineering, procurement, and construction firms that build solar energy projects and install electric vehicle charging stations. 

On August 15th, SHLS reported 2nd Quarter June 2022 earnings of $0.04 per share on revenue of $73.5 million. The consensus earnings estimate was $0.05 per share on revenue of $72.6 million. Revenue grew 23.1% on a year-over-year basis.

Shares have formed a bullish "cup and handle" and are expected to move higher from this formation.

Entry Point: $26.15

Stop Loss: $24.80

Trading Range: $9.58 to $36.86

Target Price: $28.75

Position closed on 9/15/2022 at price of $24.75 with a -5.35% loss in 2 days.

Back to Portfolio