Mark Tompkins Sells 20,000 Shares of Aeluma (NASDAQ:ALMU) Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $14.37, for a total value of $287,400.00. Following the completion of the sale, the insider owned 2,149,988 shares in the company, valued at approximately $30,895,327.56. This represents a 0.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Aeluma Stock Up 0.1%

NASDAQ ALMU opened at $14.88 on Wednesday. The company has a 50 day moving average price of $15.26. The stock has a market cap of $265.76 million and a P/E ratio of -55.11. Aeluma, Inc. has a 1-year low of $5.69 and a 1-year high of $25.88.

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

Institutional Investors Weigh In On Aeluma

Hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC grew its holdings in shares of Aeluma by 242.9% during the third quarter. FNY Investment Advisers LLC now owns 2,935 shares of the company’s stock worth $47,000 after buying an additional 2,079 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new stake in Aeluma during the third quarter worth approximately $3,398,000. Sender Co & Partners Inc. purchased a new stake in Aeluma in the 3rd quarter worth approximately $299,000. Millennium Management LLC acquired a new position in Aeluma in the 3rd quarter valued at $3,392,000. Finally, Focus Partners Wealth purchased a new position in shares of Aeluma during the 3rd quarter worth $73,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ALMU shares. Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Aeluma from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Aeluma in a research note on Wednesday, September 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Aeluma presently has a consensus rating of “Hold” and an average price target of $25.50.

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.