Aeluma (NASDAQ:ALMU) Director Sells $219,750.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) Director Steven Denbaars sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $17.58, for a total value of $219,750.00. Following the completion of the sale, the director directly owned 397,588 shares in the company, valued at $6,989,597.04. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Aeluma Price Performance

ALMU traded down $0.53 during midday trading on Friday, reaching $15.47. 292,656 shares of the company’s stock traded hands, compared to its average volume of 428,590. Aeluma, Inc. has a 52 week low of $5.79 and a 52 week high of $25.88. The firm has a fifty day moving average of $17.39 and a two-hundred day moving average of $17.00. The stock has a market capitalization of $279.23 million and a price-to-earnings ratio of -110.49.

Analysts Set New Price Targets

A number of research analysts have issued reports on ALMU shares. Wall Street Zen downgraded shares of Aeluma from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, January 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $25.00 price objective on shares of Aeluma in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Aeluma currently has a consensus rating of “Hold” and an average target price of $25.50.

Institutional Trading of Aeluma

Several hedge funds and other institutional investors have recently made changes to their positions in ALMU. XTX Topco Ltd purchased a new position in Aeluma during the fourth quarter valued at $247,000. Quadrature Capital Ltd grew its stake in shares of Aeluma by 61.3% in the fourth quarter. Quadrature Capital Ltd now owns 20,711 shares of the company’s stock worth $356,000 after acquiring an additional 7,871 shares during the last quarter. &PARTNERS increased its holdings in shares of Aeluma by 6.5% during the fourth quarter. &PARTNERS now owns 15,057 shares of the company’s stock valued at $259,000 after acquiring an additional 923 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Aeluma in the 4th quarter worth about $320,000. Finally, Barclays PLC raised its position in shares of Aeluma by 106.7% in the 4th quarter. Barclays PLC now owns 28,748 shares of the company’s stock worth $494,000 after purchasing an additional 14,841 shares during the last quarter.

Aeluma Company Profile

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.