Fintel reports that on October 3, 2024, Citigroup upgraded their outlook for Shoals Technologies Group (NasdaqGM:SHLS) from Sell to Neutral.
Analyst Price Forecast Suggests 77.19% Upside
As of September 25, 2024, the average one-year price target for Shoals Technologies Group is $9.02/share. The forecasts range from a low of $4.04 to a high of $12.60. The average price target represents an increase of 77.19% from its latest reported closing price of $5.09 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Shoals Technologies Group is 727MM, an increase of 59.91%. The projected annual non-GAAP EPS is 1.02.
What is the Fund Sentiment?
There are 521 funds or institutions reporting positions in Shoals Technologies Group. This is an decrease of 61 owner(s) or 10.48% in the last quarter. Average portfolio weight of all funds dedicated to SHLS is 0.15%, an increase of 19.15%. Total shares owned by institutions decreased in the last three months by 1.36% to 217,626K shares. 
The put/call ratio of SHLS is 0.27, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 11,441K shares representing 6.87% ownership of the company. In its prior filing, the firm reported owning 10,980K shares , representing an increase of 4.03%. The firm decreased its portfolio allocation in SHLS by 41.40% over the last quarter.
Joho Capital holds 9,643K shares representing 5.79% ownership of the company. In its prior filing, the firm reported owning 6,424K shares , representing an increase of 33.38%. The firm decreased its portfolio allocation in SHLS by 14.54% over the last quarter.
Jpmorgan Chase holds 8,891K shares representing 5.34% ownership of the company. In its prior filing, the firm reported owning 8,080K shares , representing an increase of 9.12%. The firm decreased its portfolio allocation in SHLS by 40.36% over the last quarter.
VEXPX - VANGUARD EXPLORER FUND Investor Shares holds 6,928K shares representing 4.16% ownership of the company. In its prior filing, the firm reported owning 7,133K shares , representing a decrease of 2.96%. The firm decreased its portfolio allocation in SHLS by 28.83% over the last quarter.
First Trust Advisors holds 5,421K shares representing 3.25% ownership of the company. In its prior filing, the firm reported owning 2,539K shares , representing an increase of 53.16%. The firm increased its portfolio allocation in SHLS by 19.56% over the last quarter.
Shoals Technologies Group Background Information
(This description is provided by the company.)
Shoals Technologies Group is the leading manufacturer of balance of systems solutions worldwide. Consistently providing customers with innovative designs and superior quality products, the company has seen exponential growth since its founding in 1996. With over 35 GW of BOS products deployed globally, Shoals maintains a diverse portfolio of solar balance of systems products, including combiner/re-combiner boxes, disconnect boxes, custom harnessing solutions, junction boxes, wire, in-line fuses, and racking and monitoring solutions.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
