Trade Shoals Technologies Group - SHLS CFD

Shoals Technologies Group Company profile

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Founded in 1996, Shoals Technologies Group Inc (SHLS) is a leading provider of electrical balance of system solutions, also called “EBOS”, in the United States. Used for various solar projects, EBOS accumulates all the components necessary to transfer the electric current, produced by solar panels, to an inverter and eventually to the power grid.

According to energy research consultancy Wood Mackenzie, EBOS components represent almost 6 per cent of the total cost of a solar energy project. However, the cost of labour to install them can be even higher, as they require a large number of time-consuming manual operations by licensed electricians. The solar industry has a huge demand for new products and services, such as those provided by Shoals Technologies, that can handle labour and installation costs.

Shoals Technologies Group inc develops innovative EBOS solutions designed to decrease installation costs and increase safety and reliability. It became the first on the solar market to commercialise “plug-n-play” EBOS systems with simple push connectors rather than wire “crimps”. These modified connectors allow general labour, and not only certified electricians, to install the EBOS system.

The company’s major “plug-n-play” product is called the “Big Lead Assembly” or BLA. It costs less to install and is positioned as more reliable than any other EBOS system on the market.

Shoals Technologies Group sells its products mainly to EPCs (engineering, procurement and construction companies) that build solar energy products.

Solar stocks rallied since the election of President Joe Biden, as he introduced green energy initiative as a big part of his campaign. Shoals decided to debut on the stock market by the end of January 2021. The Shoals Technologies Group stock price floated on the Nasdaq stock exchange under the ticker SHLS.

With solar stocks trading around all-time highs, Shoals IPO offered 77 million shares at a price range of $25 per share. Originally, the company planned to offer 50 million shares at a price range of $19-$21. The rise in volume and price proved a strong interest to the SHLS stock from institutional investors.

According to the company’s filing, for the nine months ended September 30, 2020, Shoals reported revenue of $136.7m, which is 28 per cent up from the same period in 2019. Net income comprised $29.5m, compared to $17.3m a year ago.

The company reported that the share of solar energy projects, including battery energy storage, will grow from 6 per cent in 2019 to 22 per cent in 2023. It can make Shoals Technologies Group an attractive eco-investment in the coming years.

Today you can trade SHLS shares with CFDs directly from the interactive Shoals Technologies share price chart at Capital.com. Follow the SHLS share price and decide whether to open a long or a short trade, depending on the stock’s performance. Track the Shoals stock price today and include this popular electric energy stock in your portfolio.