Shoals Technologies Group (NASDAQ:SHLS) Stock Gets Price Target Trim from JPMorgan Chase & Co.

Shoals Technologies Group (NASDAQ:SHLS) had its target price trimmed by JPMorgan Chase & Co. from $13.00 to $12.00 in a report published on Monday,Benzinga reports. They currently have an overweight rating on the stock.

SHLS has been the topic of a number of other reports. Roth Capital reaffirmed a “buy” rating on shares of Shoals Technologies Group in a research report on Thursday, July 2nd. Mizuho cut their target price on shares of Shoals Technologies Group from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Friday, October 16th. Barclays increased their target price on shares of Shoals Technologies Group from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Thursday, October 8th. Wall Street Zen lowered shares of Shoals Technologies Group from a “buy” rating to a “hold” rating in a research note on Sunday, August 16th. Finally, Jefferies Financial Group lowered their price target on shares of Shoals Technologies Group from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Wednesday, October 14th. Eleven 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 company presently has an average rating of “Moderate Buy” and an average price target of $10.80.

Shoals Technologies Group Trading Up 6.4%

Shares of NASDAQ SHLS opened at $7.95 on Monday. The company has a current ratio of 2.25, a quick ratio of 1.12 and a debt-to-equity ratio of 0.32. Shoals Technologies Group has a one year low of $5.43 and a one year high of $13.18. The business has a 50-day moving average price of $7.61 and a two-hundred day moving average price of $8.71. The firm has a market capitalization of $1.34 billion, a PE ratio of 41.84, a PEG ratio of 0.93 and a beta of 1.85.

Shoals Technologies Group (NASDAQ:SHLS) last issued its earnings results on Tuesday, August 4th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $163.37 million for the quarter, compared to the consensus estimate of $160.03 million. Shoals Technologies Group had a return on equity of 10.07% and a net margin of 5.41%. The firm’s quarterly revenue was up 47.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. As a group, analysts predict that Shoals Technologies Group will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of Shoals Technologies Group

A number of institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in shares of Shoals Technologies Group by 0.5% during the 1st quarter. Principal Financial Group Inc. now owns 394,094 shares of the company’s stock worth $2,593,000 after purchasing an additional 1,883 shares during the last quarter. Mirador Capital Partners LP increased its position in Shoals Technologies Group by 4.7% during the third quarter. Mirador Capital Partners LP now owns 60,728 shares of the company’s stock worth $492,000 after buying an additional 2,708 shares during the last quarter. Farther Finance Advisors LLC increased its position in Shoals Technologies Group by 428.6% during the third quarter. Farther Finance Advisors LLC now owns 4,134 shares of the company’s stock worth $33,000 after buying an additional 3,352 shares during the last quarter. KBC Group NV bought a new stake in shares of Shoals Technologies Group during the 1st quarter worth about $30,000. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of Shoals Technologies Group during the 2nd quarter worth about $53,000.

Shoals Technologies Group Company Profile

Shoals Technologies Group, Inc develops electrical balance-of-system (EBOS) solutions for solar energy projects. Its products connect, protect, combine and monitor the direct-current electrical output of solar panels before electricity is converted and delivered to the broader power system.

The company’s product portfolio includes wire harnesses, junction boxes, inline fuses, disconnects, recombiners, communication and monitoring equipment, and other electrical components used in photovoltaic installations.