Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells 15,000 Shares of Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 15,000 shares of the business’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $14.87, for a total transaction of $223,050.00. Following the completion of the sale, the insider directly owned 2,069,988 shares in the company, valued at approximately $30,780,721.56. This represents a 0.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Aeluma Price Performance

Aeluma stock traded down $1.03 during mid-day trading on Monday, reaching $17.05. The company’s stock had a trading volume of 486,746 shares, compared to its average volume of 361,036. The stock has a market cap of $304.51 million and a P/E ratio of -63.15. Aeluma, Inc. has a 12 month low of $5.69 and a 12 month high of $25.88. The firm’s 50 day simple moving average is $15.15.

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

Wall Street Analysts Forecast Growth

ALMU has been the subject of several recent research reports. Benchmark reissued a “buy” rating and set a $25.00 price target on shares of Aeluma in a research report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Aeluma from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Aeluma currently has an average rating of “Hold” and a consensus price target of $25.50.

Hedge Funds Weigh In On Aeluma

Several institutional investors and hedge funds have recently modified their holdings of ALMU. Quantbot Technologies LP bought a new position in shares of Aeluma in the third quarter valued at about $29,000. BNP Paribas Financial Markets grew its stake in 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 last quarter. Police & Firemen s Retirement System of New Jersey acquired a new position in Aeluma in the 2nd quarter valued at about $32,000. Osaic Holdings Inc. bought a new position in Aeluma in the 2nd quarter valued at about $32,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new stake in Aeluma during the third quarter worth approximately $39,000.

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. Aeluma, Inc was formerly known as Parc Investments, Inc and changed its name to Aeluma, Inc June 2021.