JPMorgan Chase & Co. Issues Pessimistic Forecast for Shoals Technologies Group (NASDAQ:SHLS) Stock Price

Key Points

• JPMorgan cut its price target on Shoals to $9 from $11 while keeping an "overweight" rating, a level that implies roughly a 30% upside from the recent close.
• MarketBeat shows a consensus of "Moderate Buy" with an average analyst target of $9.43 (10 Buys, 7 Holds), though several firms including Needham and Guggenheim recently trimmed their targets.
• Shoals' latest quarter beat revenue expectations ($148.3M vs. $144.5M, +38.6% YoY) but missed EPS ($0.10 vs. $0.14), and the stock traded around $6.92 on heavy volume, valuing the company at about $1.16B.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $11.00 to $9.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 30.06% from the stock's previous close.

SHLS has been the subject of several other research reports. Weiss Ratings reissued a "hold (c)" rating on shares of Shoals Technologies Group in a report on Friday, January 9th. Needham & Company LLC dropped their price objective on shares of Shoals Technologies Group from $14.00 to $12.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Guggenheim cut their target price on shares of Shoals Technologies Group from $12.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. Wall Street Zen downgraded shares of Shoals Technologies Group from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. Finally, BNP Paribas Exane raised shares of Shoals Technologies Group from an "underperform" rating to a "neutral" rating and set a $9.00 price target on the stock in a research report on Wednesday, February 25th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $9.43.

Shoals Technologies Group Stock Performance

Shoals Technologies Group stock traded down $0.31 during trading on Thursday, hitting $6.92. The stock had a trading volume of 8,071,193 shares, compared to its average volume of 4,875,583. Shoals Technologies Group has a 1 year low of $2.92 and a 1 year high of $11.36. The company has a quick ratio of 1.32, a current ratio of 2.03 and a debt-to-equity ratio of 0.23. The stock's 50 day moving average is $7.41 and its two-hundred day moving average is $8.47. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 34.60, a price-to-earnings-growth ratio of 1.00 and a beta of 1.64.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its earnings results on Tuesday, February 24th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.04). Shoals Technologies Group had a return on equity of 9.10% and a net margin of 7.06%.The firm had revenue of $148.33 million during the quarter, compared to analysts' expectations of $144.52 million. During the same period in the prior year, the business earned $0.08 earnings per share. The business's quarterly revenue was up 38.6% compared to the same quarter last year. As a group, analysts predict that Shoals Technologies Group will post 0.29 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of Shoals Technologies Group by 57.7% in the fourth quarter. GAMMA Investing LLC now owns 3,756 shares of the company's stock worth $32,000 after buying an additional 1,375 shares in the last quarter. USA Financial Formulas purchased a new position in Shoals Technologies Group during the fourth quarter valued at approximately $49,000. State of Alaska Department of Revenue purchased a new position in Shoals Technologies Group during the third quarter valued at approximately $54,000. Dynamic Technology Lab Private Ltd bought a new stake in Shoals Technologies Group during the 1st quarter worth approximately $57,000. Finally, Tower Research Capital LLC TRC increased its holdings in Shoals Technologies Group by 468.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,519 shares of the company's stock worth $66,000 after acquiring an additional 12,788 shares during the period.

About Shoals Technologies Group

Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.

Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.

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