Piper Sandler Upgrades Shoals Technologies Group Inc - (SHLS)
Fintel reports that on October 6, 2023, Piper Sandler upgraded their outlook for Shoals Technologies Group Inc - (NASDAQ:SHLS) from Neutral to Overweight .
Analyst Price Forecast Suggests 106.02% Upside
As of October 5, 2023, the average one-year price target for Shoals Technologies Group Inc - is 31.21. The forecasts range from a low of 20.20 to a high of $44.10. The average price target represents an increase of 106.02% from its latest reported closing price of 15.15.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Shoals Technologies Group Inc - is 518MM, an increase of 26.53%. The projected annual non-GAAP EPS is 0.64.
What is the Fund Sentiment?
There are 643 funds or institutions reporting positions in Shoals Technologies Group Inc -. This is an increase of 1 owner(s) or 0.16% in the last quarter. Average portfolio weight of all funds dedicated to SHLS is 0.32%, an increase of 10.71%. Total shares owned by institutions increased in the last three months by 7.98% to 213,249K shares. 
The put/call ratio of SHLS is 0.45, indicating a bullish outlook.
What are Other Shareholders Doing?
Clearbridge Investments holds 8,521K shares representing 5.01% ownership of the company. In it's prior filing, the firm reported owning 7,484K shares, representing an increase of 12.18%. The firm increased its portfolio allocation in SHLS by 20.61% over the last quarter.
Invesco holds 7,727K shares representing 4.55% ownership of the company. In it's prior filing, the firm reported owning 7,458K shares, representing an increase of 3.48%. The firm increased its portfolio allocation in SHLS by 1,079.70% over the last quarter.
Wellington Management Group Llp holds 7,281K shares representing 4.28% ownership of the company. In it's prior filing, the firm reported owning 5,943K shares, representing an increase of 18.38%. The firm increased its portfolio allocation in SHLS by 31.12% over the last quarter.
Alliancebernstein holds 6,167K shares representing 3.63% ownership of the company. In it's prior filing, the firm reported owning 6,182K shares, representing a decrease of 0.24%. The firm increased its portfolio allocation in SHLS by 6.64% over the last quarter.
Ubs Asset Management Americas holds 5,304K shares representing 3.12% ownership of the company. No change in 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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This story originally appeared on Fintel.