Craig-Hallum bullish on Aeluma, initiates with a Buy

As previously reported, Craig-Hallum initiated coverage of Aeluma (ALMU) with a Buy rating and $26 price target The firm views Aeluma’s technology as a fundamental platform, upon which a wide variety of applications can emerge. Craig-Hallum sees Aeluma’s SAM being $3B-plus by 2030, and with moonshot programs, it could be materially higher getting into the next decade. Aeluma is a little-known story that has no current coverage, that is on the verge of inflecting into multiple large and fast-growing markets, the firm adds. With a significant value proposition that is gaining attention, and potential catalysts emerging this year, Craig-Hallum believes Aeluma deserves a place in any microcap or growth portfolio.