JPMorgan Chase & Co. Increases Shoals Technologies Group (NASDAQ:SHLS) Price Target to $9.00

Key Points

• JPMorgan Chase & Co. raised its price objective for Shoals Technologies Group stock from $8.00 to $9.00, indicating a potential upside of 17.51% from the current price.
• The stock has received a total of 13 Buy ratings, 6 Hold ratings, and 2 Sell ratings from analysts, with an average target price of $9.15.
• Shoals Technologies Group reported Q2 earnings of $0.10 per share, exceeding estimates, and recorded revenue of $110.84 million, a year-over-year increase of 11.7%.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) had its target price increased by investment analysts at JPMorgan Chase & Co. from $8.00 to $9.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 22.90% from the company's current price.

SHLS has been the subject of several other reports. Guggenheim lifted their price objective on shares of Shoals Technologies Group from $6.00 to $8.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Mizuho cut shares of Shoals Technologies Group from an "outperform" rating to a "neutral" rating and set a $7.00 price objective for the company. in a research note on Monday, July 14th. Barclays increased their price target on Shoals Technologies Group from $4.00 to $7.00 and gave the stock an "equal weight" rating in a research report on Friday, July 18th. UBS Group dropped their price target on shares of Shoals Technologies Group from $7.50 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Jefferies Financial Group lifted their price target on shares of Shoals Technologies Group from $6.00 to $9.00 and gave the company a "buy" rating in a research note on Monday, September 8th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, Shoals Technologies Group presently has an average rating of "Moderate Buy" and an average price target of $9.15.

Shoals Technologies Group Stock Down 2.5%

Shoals Technologies Group stock traded down $0.19 during midday trading on Friday, hitting $7.32. 947,819 shares of the company's stock were exchanged, compared to its average volume of 6,232,963. The company has a market cap of $1.23 billion, a PE ratio of 56.50, a P/E/G ratio of 0.89 and a beta of 1.62. Shoals Technologies Group has a 12 month low of $2.71 and a 12 month high of $7.76. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.64 and a current ratio of 2.34. The firm has a 50-day moving average of $6.07 and a two-hundred day moving average of $4.91.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a net margin of 5.27% and a return on equity of 7.57%. The business had revenue of $110.84 million during the quarter, compared to analyst estimates of $104.87 million. During the same period in the prior year, the firm posted $0.10 earnings per share. The company's quarterly revenue was up 11.7% on a year-over-year basis. Shoals Technologies Group has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts expect that Shoals Technologies Group will post 0.29 earnings per share for the current fiscal year.

Institutional Trading of Shoals Technologies Group

Institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in shares of Shoals Technologies Group by 51.9% in the first quarter. Wellington Management Group LLP now owns 21,615,890 shares of the company's stock valued at $71,765,000 after purchasing an additional 7,382,548 shares in the last quarter. Encompass Capital Advisors LLC acquired a new stake in shares of Shoals Technologies Group in the second quarter valued at $56,120,000. Peconic Partners LLC raised its stake in shares of Shoals Technologies Group by 79.8% in the second quarter. Peconic Partners LLC now owns 6,975,186 shares of the company's stock valued at $29,645,000 after acquiring an additional 3,095,186 shares in the last quarter. Invesco Ltd. increased its holdings in Shoals Technologies Group by 5.8% during the 1st quarter. Invesco Ltd. now owns 6,791,182 shares of the company's stock worth $22,547,000 after purchasing an additional 375,271 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Shoals Technologies Group by 3.6% during the second quarter. Geode Capital Management LLC now owns 4,213,350 shares of the company's stock worth $17,909,000 after buying an additional 146,628 shares in the last quarter.

Shoals Technologies Group Company Profile

Shoals Technologies Group, Inc provides electrical balance of system (EBOS) solutions and components for solar, battery energy, and electric vehicle (EV) charging applications in the United States and internationally. The company designs, manufactures, and sells system solutions for both homerun and combine-as-you-go wiring architectures, as well as offers technical support services.