Fintel reports that on May 9, 2023, Goldman Sachs maintained coverage of Shoals Technologies Group Inc – (NASDAQ:SHLS) with a Neutral recommendation.

Analyst Price Forecast Suggests 61.82% Upside

As of April 24, 2023, the average one-year price target for Shoals Technologies Group Inc – is 31.91. The forecasts range from a low of 22.22 to a high of $43.05. The average price target represents an increase of 61.82% from its latest reported closing price of 19.72.

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 42.42%. The projected annual non-GAAP EPS is 0.64.

What is the Fund Sentiment?

There are 629 funds or institutions reporting positions in Shoals Technologies Group Inc -. This is an increase of 93 owner(s) or 17.35% in the last quarter. Average portfolio weight of all funds dedicated to SHLS is 0.31%, an increase of 28.04%. Total shares owned by institutions increased in the last three months by 32.18% to 175,173K shares. The put/call ratio of SHLS is 1.20, indicating a bearish outlook.

What are Other Shareholders Doing?

T. Rowe Price Investment Management holds 6,886K shares representing 4.06% ownership of the company. In it’s prior filing, the firm reported owning 9,656K shares, representing a decrease of 40.22%. The firm decreased its portfolio allocation in SHLS by 21.59% over the last quarter.

Clearbridge Investments holds 6,395K shares representing 3.77% ownership of the company. In it’s prior filing, the firm reported owning 6,230K shares, representing an increase of 2.59%. The firm increased its portfolio allocation in SHLS by 15.10% over the last quarter.

Ubs Asset Management Americas holds 5,731K shares representing 3.38% ownership of the company. In it’s prior filing, the firm reported owning 3,673K shares, representing an increase of 35.90%. The firm increased its portfolio allocation in SHLS by 66.91% over the last quarter.

Alliancebernstein holds 5,255K shares representing 3.10% ownership of the company. In it’s prior filing, the firm reported owning 127K shares, representing an increase of 97.59%. The firm increased its portfolio allocation in SHLS by 4,318.91% over the last quarter.

Invesco holds 4,839K shares representing 2.85% ownership of the company. In it’s prior filing, the firm reported owning 4,735K shares, representing an increase of 2.14%. The firm increased its portfolio allocation in SHLS by 6.45% 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. ?

See all Shoals Technologies Group Inc – regulatory filings.

This article originally appeared on Fintel

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