Benchmark Reaffirms “Buy” Rating for Aeluma (NASDAQ:ALMU)

Aeluma (NASDAQ:ALMU)‘s stock had its “buy” rating reissued by Benchmark in a note issued to investors on Monday,Benzinga reports. They currently have a $25.00 price target on the stock. Benchmark’s price objective suggests a potential upside of 43.76% from the stock’s current price.

ALMU has been the subject of a number of other research reports. Wall Street Zen lowered Aeluma from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Aeluma has a consensus rating of “Hold” and a consensus target price of $25.50.

Aeluma Price Performance

Shares of Aeluma stock opened at $17.39 on Monday. The business has a 50-day moving average price of $15.17. The stock has a market capitalization of $310.59 million and a PE ratio of -64.41. Aeluma has a 52-week low of $5.69 and a 52-week high of $25.88.

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

Insider Buying and Selling at Aeluma

In other news, major shareholder Mark N. Tompkins sold 63,604 shares of the firm’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $18.70, for a total value of $1,189,394.80. Following the transaction, the insider directly owned 2,676,582 shares in the company, valued at $50,052,083.40. This trade represents a 2.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders sold 701,345 shares of company stock worth $12,052,680. 14.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Aeluma by 98.1% in the third 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. Apis Capital Advisors LLC lifted its stake in shares of Aeluma by 4.8% in 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 period. Geode Capital Management LLC purchased a new position in shares of Aeluma in the second quarter worth approximately $3,850,000. Polar Asset Management Partners Inc. purchased a new position in shares of Aeluma in the third quarter worth approximately $3,398,000. Finally, Millennium Management LLC bought a new stake in Aeluma during the third quarter valued at approximately $3,392,000.

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.