Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells $542,100.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 30,000 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $18.07, for a total transaction of $542,100.00. Following the sale, the insider owned 1,919,988 shares of the company’s stock, valued at $34,694,183.16. This trade represents a 1.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Aeluma Stock Down 5.2%

NASDAQ:ALMU opened at $16.74 on Friday. The firm has a market cap of $298.94 million and a PE ratio of -62.00. Aeluma, Inc. has a 12 month low of $5.69 and a 12 month high of $25.88. The company’s 50-day moving average price is $16.89 and its two-hundred day moving average price is $17.65.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new stake in shares of Aeluma in the 2nd quarter valued at $3,850,000. Vanguard Group Inc. lifted its stake in shares of Aeluma by 98.1% during the third quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock valued at $7,067,000 after acquiring an additional 217,430 shares during the period. Polar Asset Management Partners Inc. acquired a new position in shares of Aeluma during the third quarter valued at $3,398,000. Millennium Management LLC bought a new position in Aeluma in the third quarter valued at about $3,392,000. Finally, Russell Investments Group Ltd. acquired a new stake in Aeluma in the third quarter worth about $685,000.

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.