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

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

Other equities research analysts have also recently issued reports about the company. Mizuho cut Shoals Technologies Group from an “outperform” rating to a “neutral” rating and set a $7.00 price target for the company. in a research note on Monday, July 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Shoals Technologies Group in a research note on Tuesday. Wall Street Zen cut Shoals Technologies Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 17th. Roth Capital upgraded Shoals Technologies Group from a “neutral” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Thursday, August 7th. Finally, Morgan Stanley boosted their price target on Shoals Technologies Group from $7.00 to $11.00 and gave the company an “overweight” rating in a research note on Thursday. Fourteen 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.79.

Shoals Technologies Group Trading Down 6.6%

Shares of NASDAQ:SHLS opened at $10.13 on Thursday. Shoals Technologies Group has a 12-month low of $2.71 and a 12-month high of $11.31. The stock has a market cap of $1.70 billion, a PE ratio of 77.93, a P/E/G ratio of 1.30 and a beta of 1.65. The business has a 50 day moving average of $7.19 and a 200-day moving average of $5.55. 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) last issued its quarterly earnings data 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. Shoals Technologies Group had a return on equity of 7.57% and a net margin of 5.27%.The company had revenue of $110.84 million during the quarter, compared to analysts’ expectations of $104.87 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business’s 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, equities research 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 added to or reduced their stakes in SHLS. Nisa Investment Advisors LLC raised 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 purchasing an additional 5,910 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of Shoals Technologies Group during the first quarter worth $43,000. MQS Management LLC acquired a new position in shares of Shoals Technologies Group during the first quarter worth $43,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Shoals Technologies Group during the first quarter worth $44,000. Finally, Virtu Financial LLC acquired a new position in shares of Shoals Technologies Group during the first quarter worth $46,000.

About Shoals Technologies Group

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.