Aeluma (NASDAQ:ALMU) Shares Up 1.4% – Here’s What Happened

Aeluma, Inc. (NASDAQ:ALMU)’s stock price shot up 1.4% during mid-day trading on Friday . The company traded as high as $26.03 and last traded at $25.20. 800,762 shares changed hands during trading, a decline of 31% from the average session volume of 1,153,290 shares. The stock had previously closed at $24.84.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALMU. Benchmark reiterated a “buy” rating and set a $25.00 target price on shares of Aeluma in a research report on Tuesday, March 3rd. Wall Street Zen lowered Aeluma from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Williams Trading set a $25.00 target price on Aeluma in a research report on Tuesday, March 3rd. UBS Group reiterated a “buy” rating on shares of Aeluma in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.33.

Aeluma Trading Up 1.4%

The business has a fifty day simple moving average of $21.06 and a two-hundred day simple moving average of $17.96. The company has a market cap of $461.41 million, a PE ratio of -72.00 and a beta of 3.94.

Aeluma (NASDAQ:ALMU) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $1.22 million for the quarter, compared to analyst estimates of $1.37 million. Aeluma had a negative return on equity of 12.03% and a negative net margin of 115.57%.

Insider Buying and Selling at Aeluma

In other news, CEO Jonathan Klamkin sold 20,000 shares of Aeluma stock in a transaction on 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 owned 2,403 shares in the company, valued at $59,978.88. The trade was a 89.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total value of $249,875.00. Following the transaction, the director owned 382,709 shares in the company, valued at approximately $7,650,352.91. This represents a 3.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 52,500 shares of company stock worth $1,011,075. Insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Aeluma by 98.1% during the 3rd quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock worth $7,067,000 after purchasing an additional 217,430 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Aeluma by 22.5% during the 4th quarter. Geode Capital Management LLC now owns 285,732 shares of the company’s stock worth $4,907,000 after purchasing an additional 52,565 shares during the last quarter. Apis Capital Advisors LLC increased its position in shares of Aeluma by 4.8% during the 3rd quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company’s stock worth $4,082,000 after purchasing an additional 11,545 shares during the last quarter. State Street Corp increased its position in shares of Aeluma by 34.0% during the 4th quarter. State Street Corp now owns 213,405 shares of the company’s stock worth $3,664,000 after purchasing an additional 54,184 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Aeluma during the 3rd quarter worth about $3,398,000.

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.