Aeluma (NASDAQ:ALMU) Major Shareholder Sells 30,000 Shares

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 30,000 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $16.82, for a total transaction of $504,600.00. Following the transaction, the insider owned 2,189,988 shares in the company, valued at $36,835,598.16. The trade was a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Aeluma Trading Up 1.4%

ALMU traded up $0.25 during trading on Thursday, reaching $17.83. The company’s stock had a trading volume of 343,412 shares, compared to its average volume of 281,444. The company has a market capitalization of $318.44 million and a P/E ratio of -66.04. The stock has a fifty day simple moving average of $15.61. Aeluma, Inc. has a 1 year low of $4.25 and a 1 year high of $25.88.

Aeluma (NASDAQ:ALMU) last posted its quarterly earnings results on Wednesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. Aeluma had a negative net margin of 67.97% and a negative return on equity of 18.15%. The company had revenue of $1.39 million during the quarter.

Institutional Investors Weigh In On Aeluma

A number of institutional investors have recently made changes to their positions in ALMU. Quantbot Technologies LP purchased a new stake in Aeluma in the third quarter valued at approximately $29,000. BNP Paribas Financial Markets raised its holdings in shares of Aeluma by 79.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock valued at $31,000 after buying an additional 855 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Aeluma in the 2nd quarter valued at $32,000. Osaic Holdings Inc. acquired a new position in Aeluma during the 2nd quarter worth about $32,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in Aeluma during the 3rd quarter valued at about $39,000.

Analysts Set New Price Targets

ALMU has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a report on Wednesday, October 8th. Wall Street Zen cut shares of Aeluma from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Benchmark reiterated a “buy” rating and issued a $25.00 target price on shares of Aeluma in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Aeluma presently has an average rating of “Hold” and an average price target of $25.50.

About Aeluma

Aeluma, Inc develops optoelectronic and electronic devices in the United States. The company manufactures semiconductor materials and chips using compound semiconductors on diameter substrates that are used to manufacture mass market microelectronics. It offers its devices for use in mobile, automotive, AI, defence and aerospace, communication, AR/VR, and HPC applications, as well as laser emitters, transistors for integrated circuits, quantum photonic circuits, and solar cells applications.