Analysts Offer Insights on Technology Companies: Shoals Technologies Group (SHLS) and Luna Innovations (LUNA)

Analysts fell to the sidelines weighing in on Shoals Technologies Group (SHLS – Research Report) and Luna Innovations (LUNA – Research Report) with neutral ratings, indicating that the experts are neither bullish nor bearish on the stocks.

Shoals Technologies Group (SHLS)

Northland Securities analyst Donovan Schafer CFA maintained a Hold rating on Shoals Technologies Group today and set a price target of $18.00. The company’s shares closed last Tuesday at $15.07, close to its 52-week low of $12.11.

According to TipRanks.com, CFA is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -19.4% and a 23.3% success rate. CFA covers the Technology sector, focusing on stocks such as Maxeon Solar Technologies, NEXTracker, Inc. Class A, and Array Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Shoals Technologies Group with a $26.08 average price target, implying an 83.8% upside from current levels. In a report issued on November 8, Morgan Stanley also maintained a Hold rating on the stock with a $21.00 price target.

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Luna Innovations (LUNA)

In a report released today, Tim Savageaux from Northland Securities maintained a Hold rating on Luna Innovations, with a price target of $7.00. The company’s shares closed last Tuesday at $5.15, close to its 52-week low of $5.05.

According to TipRanks.com, Savageaux is a 5-star analyst with an average return of 15.9% and a 56.1% success rate. Savageaux covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Applied Optoelectronics, and Lumentum Holdings.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Luna Innovations with a $9.25 average price target.

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Read More on SHLS:

• Shoals Technologies price target lowered to $30 from $40 at Roth MKM
• Shoals Technologies price target lowered to $30 from $35 at TD Cowen
• Shoals Technologies price target lowered to $23 from $26 at Citi
• Shoals Technologies narrows FY23 revenue view to $485M-$495M from $480M-$510M
• Shoals Technologies reports Q3 EPS 20c, consensus 15c