Aeluma, Inc. (NASDAQ:ALMU) Receives $25.33 Average Target Price from Analysts

Aeluma, Inc. (NASDAQ:ALMU) has been given a consensus recommendation of “Moderate Buy” by the four ratings firms that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $25.00.

ALMU has been the topic of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a report on Monday, April 20th. Wall Street Zen downgraded Aeluma from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, Freedom Capital upgraded Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st.

Insider Activity at Aeluma

In other Aeluma news, CEO Jonathan Klamkin sold 20,000 shares of Aeluma stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $24.96, for a total transaction of $499,200.00. Following the completion of the sale, the chief executive officer directly owned 2,403 shares in the company, valued at approximately $59,978.88. The trade was a 89.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 own 14.70% of the company’s stock.

Hedge Funds Weigh In On Aeluma

A number of hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Aeluma in the fourth quarter valued at approximately $27,000. Quantbot Technologies LP purchased a new stake in Aeluma in the 3rd quarter worth $29,000. BNP Paribas Financial Markets raised its position in Aeluma by 79.2% during 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. Osaic Holdings Inc. purchased a new stake in shares of Aeluma during the second quarter worth about $32,000. Finally, State of Wyoming purchased a new stake in shares of Aeluma during the fourth quarter worth about $35,000.

Aeluma Price Performance

Aeluma stock opened at $17.04 on Friday. The stock has a market capitalization of $312.00 million, a price-to-earnings ratio of -48.68 and a beta of 3.88. Aeluma has a 1-year low of $10.24 and a 1-year high of $31.79. The business has a fifty day moving average price of $22.85 and a 200-day moving average price of $18.80.

Aeluma (NASDAQ:ALMU) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.37 million.

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.