Aeluma, Inc. (NASDAQ:ALMU) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Aeluma, Inc. (NASDAQ:ALMU) has been given a consensus recommendation of “Moderate Buy” by the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $25.3333.

A number of brokerages have recently weighed in on ALMU. Wall Street Zen lowered shares of Aeluma from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. UBS Group reissued a “buy” rating on shares of Aeluma in a report on Tuesday, March 3rd. Freedom Capital raised shares of Aeluma to a “strong-buy” rating in a report on Tuesday, March 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a report on Monday, April 20th. Finally, Williams Trading set a $25.00 price objective on shares of Aeluma in a report on Tuesday, March 3rd.

Insider Activity

In other Aeluma news, CEO Jonathan Klamkin sold 20,000 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $24.96, for a total transaction of $499,200.00. Following the sale, the chief executive officer directly owned 2,403 shares of the company’s stock, valued at approximately $59,978.88. This trade represents a 89.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total value of $249,875.00. Following the sale, the director directly owned 382,709 shares in the company, valued at $7,650,352.91. This represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,500 shares of company stock worth $1,011,075 over the last ninety days. 14.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Aeluma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in Aeluma during the 4th quarter worth about $27,000. Quantbot Technologies LP acquired a new stake in Aeluma during the 3rd quarter worth about $29,000. BNP Paribas Financial Markets grew its position in Aeluma by 79.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock worth $31,000 after purchasing an additional 855 shares during the period. Osaic Holdings Inc. acquired a new stake in Aeluma during the 2nd quarter worth about $32,000. Finally, State of Wyoming purchased a new stake in shares of Aeluma during the 4th quarter worth about $35,000.

Aeluma Price Performance

Shares of ALMU opened at $24.93 on Tuesday. The firm has a market capitalization of $456.47 million, a PE ratio of -71.23 and a beta of 3.97. Aeluma has a 1-year low of $10.24 and a 1-year high of $31.79. The company’s fifty day moving average price is $21.29 and its 200-day moving average price is $18.07.

Aeluma (NASDAQ:ALMU) last announced its quarterly earnings data on Wednesday, May 13th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $1.22 million for the quarter, compared to analyst estimates of $1.37 million. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%.

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.