Fortitude Advisory Group L.L.C. Invests $464,000 in Aeluma, Inc. $ALMU

Fortitude Advisory Group L.L.C. acquired a new position in Aeluma, Inc. (NASDAQ:ALMU) during the 1st quarter, HoldingsChannel.com reports. The firm acquired 35,435 shares of the company’s stock, valued at approximately $464,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC bought a new stake in Aeluma during the second quarter valued at approximately $3,850,000. Vanguard Group Inc. grew its stake in Aeluma by 98.1% in the 3rd quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock worth $7,067,000 after buying an additional 217,430 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of Aeluma in the 3rd quarter worth $3,398,000. Millennium Management LLC bought a new position in shares of Aeluma in the 3rd quarter worth $3,392,000. Finally, State Street Corp raised its position in shares of Aeluma by 34.0% during the 4th quarter. State Street Corp now owns 213,405 shares of the company’s stock valued at $3,664,000 after buying an additional 54,184 shares in the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ALMU shares. 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 research note on Monday, April 20th. Finally, Wall Street Zen downgraded Aeluma from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.33.

Insiders Place Their Bets

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $19.99, for a total transaction of $249,875.00. Following the completion of 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. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jonathan Klamkin sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $24.96, for a total value of $499,200.00. Following the transaction, the chief executive officer directly owned 2,403 shares in the company, valued at $59,978.88. This trade represents a 89.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 14.70% of the stock is owned by company insiders.

Aeluma Price Performance

Shares of NASDAQ ALMU opened at $18.85 on Monday. The stock has a market capitalization of $345.14 million, a P/E ratio of -53.86 and a beta of 3.88. Aeluma, Inc. has a one year low of $10.24 and a one year high of $31.79. The firm’s 50 day simple moving average is $23.32 and its two-hundred day simple moving average is $18.67.

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

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.