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PORTLAND, Tenn. - Shoals Technologies Group, Inc. (Nasdaq:SHLS), a $1.05 billion market cap renewable energy solutions provider, has secured a contract with CJR Renewables to provide its Big Lead Assembly (BLA) system for the 110 MW Alcones solar project in Chile’s Marchigüe region, the company announced Tuesday. According to InvestingPro data, the company’s stock has shown remarkable momentum with a nearly 20% return over the past week.
The project marks Shoals’ first BLA implementation in Chile and represents a strategic expansion into the South American market. CJR Renewables, which has installed 1.6 GW of solar capacity globally, will utilize Shoals’ electrical balance of system (EBOS) solutions for the installation.
According to the company, the BLA system is designed to accelerate installation time while reducing the need for skilled labor. Juan Manuel Carbajosa García, Director of Sales at Shoals, stated that the partnership supports the company’s continued execution within strategic global markets.
Once operational, the Alcones project is expected to generate enough electricity to power over 86,000 households and avoid more than 62,000 tons of CO₂ emissions annually.
Shoals Technologies Group, founded in 1996, specializes in EBOS solutions for renewable energy projects. The company maintains a healthy financial position with a current ratio of 2.34 and operates with moderate debt levels. The company has been expanding its presence in international markets as part of its growth strategy. Discover more detailed insights and 10 additional ProTips about Shoals’ financial health and growth prospects on InvestingPro.
This information is based on a press release statement from Shoals Technologies Group.
In other recent news, Shoals Technologies Group reported its Q1 2025 earnings, revealing a revenue of $80.4 million, surpassing the forecasted $74.76 million. Despite a net loss of $300,000, the company remains optimistic about its strategic expansions and market positioning. Shoals anticipates full-year 2025 revenue to range between $410 million and $450 million. Jefferies analyst Julian Dumoulin-Smith raised the firm’s price target for Shoals Technologies to $4.90, maintaining a Hold rating on the stock. The analyst noted the positive impact of Foreign Exchange Operations Coverage language and tariffs, which are expected to reduce competitive risks from Chinese suppliers.
Additionally, Shoals Technologies is making significant advancements in international markets and Battery Energy Storage Systems, including a 12 gigawatt Memorandum of Understanding with UGT Renewables. The company is also constructing a large manufacturing facility to boost capacity. The backlog showed a 30% quarter-over-quarter growth, indicating a strengthening pipeline. However, concerns about emerging competitors and the phaseout of the 48E tax credit remain. Despite these challenges, Shoals continues to capitalize on the growing demand for solar installations and energy storage solutions.
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