Fintel reports that on December 17, 2024, Morgan Stanley upgraded their outlook for Shoals Technologies Group (NasdaqGM:SHLS) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 88.70% Upside
As of December 3, 2024, the average one-year price target for Shoals Technologies Group is $7.87/share. The forecasts range from a low of $5.05 to a high of $12.60. The average price target represents an increase of 88.70% from its latest reported closing price of $4.17 / share.
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The projected annual revenue for Shoals Technologies Group is 727MM, an increase of 72.04%. The projected annual non-GAAP EPS is 1.02.
What is the Fund Sentiment?
There are 497 funds or institutions reporting positions in Shoals Technologies Group. This is an decrease of 27 owner(s) or 5.15% in the last quarter. Average portfolio weight of all funds dedicated to SHLS is 0.13%, an increase of 10.34%. Total shares owned by institutions decreased in the last three months by 9.00% to 198,338K shares. 
The put/call ratio of SHLS is 0.15, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 13,107K shares representing 7.86% ownership of the company. In its prior filing, the firm reported owning 11,441K shares , representing an increase of 12.72%. The firm decreased its portfolio allocation in SHLS by 85.83% 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.
Point72 Asset Management holds 6,844K shares representing 4.11% ownership of the company. In its prior filing, the firm reported owning 1,222K shares , representing an increase of 82.15%. The firm increased its portfolio allocation in SHLS by 389.08% over the last quarter.
Jpmorgan Chase holds 6,238K shares representing 3.74% ownership of the company. In its prior filing, the firm reported owning 8,891K shares , representing a decrease of 42.53%. The firm decreased its portfolio allocation in SHLS by 41.47% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,392K shares representing 3.23% ownership of the company. In its prior filing, the firm reported owning 5,290K shares , representing an increase of 1.90%. The firm decreased its portfolio allocation in SHLS by 13.92% 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.
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