Aeluma (NASDAQ:ALMU) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Aeluma (NASDAQ:ALMU) announced its quarterly earnings data on Thursday. The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01, Zacks reports. The firm had revenue of $0.57 million during the quarter. Aeluma had a negative net margin of 205.31% and a negative return on equity of 18.14%.

Aeluma Trading Up 5.1%

Shares of ALMU traded up $0.37 during trading hours on Thursday, reaching $7.58. The company had a trading volume of 798,020 shares, compared to its average volume of 888,721. Aeluma has a 12-month low of $5.87 and a 12-month high of $31.79. The firm has a 50 day simple moving average of $10.54 and a 200-day simple moving average of $16.12. The company has a market capitalization of $146.41 million, a price-to-earnings ratio of -14.58 and a beta of 4.52.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALMU shares. Northland Securities started coverage on Aeluma in a research report on Monday, November 2nd. They set an “outperform” rating and a $16.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a report on Thursday, October 15th. Freedom Broker reduced their price target on Aeluma from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, September 17th. Finally, Zacks Research started coverage on Aeluma in a research note on Tuesday, November 3rd. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Aeluma presently has a consensus rating of “Moderate Buy” and an average target price of $22.75.

Insider Activity

In other news, CEO Jonathan Klamkin sold 100,000 shares of Aeluma stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the completion of the sale, the chief executive officer directly owned 1,126,995 shares in the company, valued at approximately $11,867,257.35. This trade represents a 8.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total value of $173,000.00. Following the sale, the director directly owned 357,709 shares in the company, valued at $4,950,692.56. This trade represents a 3.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 212,500 shares of company stock worth $2,561,000 over the last 90 days. 12.78% of the stock is currently owned by company insiders.

Aeluma Company Profile

Aeluma, Inc. develops semiconductor materials and optoelectronic devices using technology designed to integrate compound semiconductors with silicon wafers. Its approach aims to combine the performance of compound semiconductors with the scale and manufacturing advantages of silicon-based processes. The company’s technology is intended for applications in areas such as optical communications, sensing, and other photonics markets. Potential device applications include lasers and photodetectors, which can be used to generate or detect light in electronic systems.