Aeluma (NASDAQ:ALMU) Stock Price Up 11.4% – Should You Buy?

Aeluma, Inc. (NASDAQ:ALMU) shares rose 11.4% on Thursday . The stock traded as high as $24.93 and last traded at $24.84. Approximately 866,697 shares changed hands during trading, a decline of 25% from the average daily volume of 1,156,341 shares. The stock had previously closed at $22.30.

Analysts Set New Price Targets

ALMU has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research note on Monday, April 20th. Benchmark reiterated a “buy” rating and set a $25.00 target price on shares of Aeluma in a research note on Tuesday, March 3rd. Freedom Capital upgraded shares of Aeluma to a “strong-buy” rating in a research note on Tuesday, March 31st. UBS Group reiterated a “buy” rating on shares of Aeluma in a research note on Tuesday, March 3rd. Finally, Williams Trading set a $25.00 target price on shares of Aeluma in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Aeluma currently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Aeluma Stock Up 1.4%

The stock has a market capitalization of $461.41 million, a PE ratio of -72.00 and a beta of 3.94. The firm’s fifty day moving average is $21.06 and its 200-day moving average is $17.96.

Aeluma (NASDAQ:ALMU) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $1.22 million during the quarter, compared to analysts’ expectations of $1.37 million. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%.

Insider Activity

In related news, Director Steven Denbaars sold 12,500 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $19.99, for a total transaction of $249,875.00. Following the completion of the transaction, the director directly owned 382,709 shares of the company’s stock, valued at $7,650,352.91. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jonathan Klamkin sold 20,000 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $24.96, for a total transaction of $499,200.00. Following the transaction, the chief executive officer directly owned 2,403 shares of the company’s stock, valued at $59,978.88. This represents a 89.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,500 shares of company stock valued at $1,011,075 over the last three months. 14.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC purchased a new position in Aeluma in the second quarter valued at about $3,850,000. Vanguard Group Inc. increased its holdings in Aeluma by 98.1% in the third quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock valued at $7,067,000 after buying an additional 217,430 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in Aeluma in the third quarter valued at about $3,398,000. Millennium Management LLC purchased a new position in Aeluma in the third quarter valued at about $3,392,000. Finally, State Street Corp increased its holdings in Aeluma by 34.0% in the fourth quarter. State Street Corp now owns 213,405 shares of the company’s stock valued at $3,664,000 after buying an additional 54,184 shares in the last quarter.

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.