Aeluma (NASDAQ:ALMU) Major Shareholder Mark Tompkins Sells 34,500 Shares of Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 34,500 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $14.71, for a total value of $507,495.00. Following the transaction, the insider owned 1,790,488 shares of the company’s stock, valued at $26,338,078.48. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Aeluma Price Performance

Shares of NASDAQ:ALMU opened at $13.86 on Friday. The firm’s 50 day simple moving average is $17.40 and its 200 day simple moving average is $17.56. Aeluma, Inc. has a fifty-two week low of $5.69 and a fifty-two week high of $25.88. The company has a market capitalization of $247.51 million and a price-to-earnings ratio of -51.33.

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

Institutional Investors Weigh In On Aeluma

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

Analysts Set New Price Targets

ALMU has been the topic of several research analyst reports. Wall Street Zen downgraded Aeluma from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, January 21st. Finally, Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Aeluma in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus 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. Aeluma, Inc was formerly known as Parc Investments, Inc and changed its name to Aeluma, Inc June 2021.