Aeluma (NASDAQ:ALMU) Major Shareholder Sells $620,700.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $20.69, for a total value of $620,700.00. Following the transaction, the insider directly owned 1,994,988 shares in the company, valued at approximately $41,276,301.72. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Aeluma Price Performance

Shares of ALMU opened at $16.74 on Friday. Aeluma, Inc. has a 1 year low of $5.69 and a 1 year high of $25.88. The stock has a 50 day simple moving average of $16.89 and a two-hundred day simple moving average of $17.65. The firm has a market cap of $298.94 million and a P/E ratio of -62.00.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALMU. Benchmark reaffirmed a “buy” rating and set a $25.00 price objective on shares of Aeluma in a research note on Monday, December 29th. Wall Street Zen cut Aeluma from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Aeluma currently has an average rating of “Hold” and an average target price of $25.50.

Hedge Funds Weigh In On Aeluma

Several hedge funds and other institutional investors have recently modified their holdings of the company. Manchester Capital Management LLC bought a new stake in shares of Aeluma in the 2nd quarter worth approximately $409,000. JNBA Financial Advisors bought a new position in shares of Aeluma during the second quarter valued at approximately $52,000. Integrity Wealth Advisors Inc. raised its holdings in shares of Aeluma by 17.8% during the third quarter. Integrity Wealth Advisors Inc. now owns 25,429 shares of the company’s stock valued at $410,000 after acquiring an additional 3,834 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Aeluma by 79.2% in the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock worth $31,000 after acquiring an additional 855 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in Aeluma in the third quarter valued at $685,000.

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.