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

Shoals Technologies Group (NASDAQ:SHLS) had its price objective cut by JPMorgan Chase & Co. from $11.00 to $9.00 in a research report report published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently issued reports on the company. Citigroup reduced their price target on Shoals Technologies Group from $11.00 to $8.50 and set a “neutral” rating for the company in a research note on Thursday, February 26th. Needham & Company LLC reduced their price target on Shoals Technologies Group from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Morgan Stanley reduced their price target on Shoals Technologies Group from $9.50 to $8.50 and set an “equal weight” rating for the company in a research note on Wednesday, February 25th. Roth Mkm reduced their price target on Shoals Technologies Group from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Finally, Barclays reduced their price target on Shoals Technologies Group from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Ten research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.43.

Shoals Technologies Group Stock Down 4.3%

SHLS stock opened at $6.92 on Thursday. The company has a current ratio of 2.03, a quick ratio of 1.32 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1.16 billion, a PE ratio of 34.60, a PEG ratio of 1.00 and a beta of 1.64. Shoals Technologies Group has a 1-year low of $2.92 and a 1-year high of $11.36. The business’s 50 day simple moving average is $7.36 and its 200 day simple moving average is $8.46.

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

Institutional Trading of Shoals Technologies Group

A number of institutional investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Shoals Technologies Group by 3.7% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 32,055 shares of the company’s stock valued at $274,000 after acquiring an additional 1,147 shares during the period. GAMMA Investing LLC lifted its position in shares of Shoals Technologies Group by 57.7% during the 4th quarter. GAMMA Investing LLC now owns 3,756 shares of the company’s stock valued at $32,000 after acquiring an additional 1,375 shares during the period. Bank of Montreal Can lifted its position in shares of Shoals Technologies Group by 5.1% during the 4th quarter. Bank of Montreal Can now owns 33,510 shares of the company’s stock valued at $285,000 after acquiring an additional 1,620 shares during the period. Federated Hermes Inc. lifted its position in shares of Shoals Technologies Group by 1.1% during the 4th quarter. Federated Hermes Inc. now owns 165,278 shares of the company’s stock valued at $1,405,000 after acquiring an additional 1,812 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Shoals Technologies Group by 14.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 16,616 shares of the company’s stock valued at $123,000 after acquiring an additional 2,047 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.