JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Shoals Technologies Group (NASDAQ:SHLS) Stock

Shoals Technologies Group (NASDAQ:SHLS) had its price target increased by research analysts at JPMorgan Chase & Co. from $8.00 to $9.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 23.46% from the stock’s previous close.

Several other equities analysts also recently weighed in on SHLS. The Goldman Sachs Group lifted their target price on Shoals Technologies Group from $7.00 to $8.00 and gave the company a “buy” rating in a research report on Thursday, September 11th. Guggenheim upped their target price on Shoals Technologies Group from $6.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. UBS Group lowered their target price on Shoals Technologies Group from $7.50 to $7.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Jefferies Financial Group upped their target price on Shoals Technologies Group from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Finally, Barclays lifted their price objective on Shoals Technologies Group from $4.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, July 18th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.15.

Shoals Technologies Group Stock Performance

SHLS stock opened at $7.29 on Friday. The company has a market cap of $1.22 billion, a P/E ratio of 56.08, a price-to-earnings-growth ratio of 0.89 and a beta of 1.63. Shoals Technologies Group has a 1 year low of $2.71 and a 1 year high of $7.76. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.34 and a quick ratio of 1.64. The stock’s fifty day moving average price is $6.03 and its 200-day moving average price is $4.87.

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

Institutional Inflows and Outflows

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

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.