Solar Integrated Roofing (SIRC) Plunges Despite Recent Record Sales And Acquisition Deals: Great Opportunity?

Since June 29, Solar Integrated has been declining. On that day it was $0.65. Three weeks later, today, it drops to $0.44, resulting in a 32% loss. The company recently disclosed that preliminary audited sales for June 2021 were a company record of over $10.0 million. The record month of sales was driven by strong industry tailwinds, which underpinned both organic growth and revenues from recent acquisitions.

Future Home Power sold more than $6.0 million in June, demonstrating the efficiency of their lead generation capabilities. The company expects its recent record-breaking expansion and momentum to continue in the coming months as favorable seasonal trends progress and the company achieves its near-term target of $100 million in annual revenue.

The company also announced that it has acquired the developer of USA Solar Network, solar power and EV charging infrastructure. Solar Integrated believes the partnership with USA Solar Network will enable the company to grow rapidly and achieve 50-100% growth in residential and retail sales over the next year with a gross margin of more than 16%. The acquisition should be a vital growth engine for solar and EV charger installers within the SIRC family of companies.

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