Shoals Technologies Group (NASDAQ:SHLS) Price Target Raised to $11.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. raised the price target for Shoals Technologies Group from $9.00 to $11.00, maintaining an "overweight" rating and suggesting a potential upside of 3.77% from the current price.
• Other analysts, including Barclays and Goldman Sachs, also upgraded their ratings or price targets, resulting in a consensus rating of "Moderate Buy" with an average price target of $7.58.
• Shoals Technologies Group reported quarterly earnings with an EPS of $0.10, surpassing the consensus estimate, and its revenue of $110.84 million marked an 11.7% increase year-over-year.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) had its price target upped by analysts at JPMorgan Chase & Co. from $9.00 to $11.00 in a report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price points to a potential upside of 3.77% from the company's current price.

Several other equities analysts also recently weighed in on the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Shoals Technologies Group in a research note on Thursday. Barclays raised Shoals Technologies Group from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $7.00 to $10.00 in a research report on Thursday, October 2nd. The Goldman Sachs Group raised their price target on Shoals Technologies Group from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Thursday, September 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Shoals Technologies Group in a research report on Tuesday. Finally, UBS Group raised their price target on Shoals Technologies Group from $7.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday, October 1st. Fourteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Shoals Technologies Group has a consensus rating of "Moderate Buy" and a consensus price target of $7.58.

Shoals Technologies Group Price Performance

NASDAQ SHLS traded down $0.25 during mid-day trading on Thursday, hitting $10.60. The stock had a trading volume of 2,563,273 shares, compared to its average volume of 6,301,317. Shoals Technologies Group has a 52-week low of $2.71 and a 52-week high of $11.31. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 80.75, a P/E/G ratio of 1.21 and a beta of 1.65. The company has a 50 day simple moving average of $7.08 and a 200 day simple moving average of $5.51. The company has a quick ratio of 1.64, a current ratio of 2.34 and a debt-to-equity ratio of 0.23.

Shoals Technologies Group (NASDAQ:SHLS - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.02. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The firm had revenue of $110.84 million during the quarter, compared to the consensus estimate of $104.87 million. During the same period last year, the business posted $0.10 EPS. Shoals Technologies Group'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. Equities analysts forecast that Shoals Technologies Group will post 0.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Shoals Technologies Group

Institutional investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its position in Shoals Technologies Group by 449.1% during the second quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company's stock valued at $31,000 after acquiring an additional 5,910 shares during the period. Cerity Partners LLC purchased a new stake in Shoals Technologies Group during the first quarter valued at about $43,000. MQS Management LLC purchased a new stake in Shoals Technologies Group during the first quarter valued at about $43,000. Caitong International Asset Management Co. Ltd purchased a new stake in Shoals Technologies Group during the first quarter valued at about $44,000. Finally, Virtu Financial LLC purchased a new stake in Shoals Technologies Group during the first quarter valued at about $46,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.