Aeluma (NASDAQ:ALMU) Receives Buy Rating from Benchmark

Benchmark restated their buy rating on shares of Aeluma (NASDAQ:ALMU) in a research report released on Monday,Benzinga reports. They currently have a $25.00 price objective on the stock.

Other analysts have also recently issued reports about the stock. Wall Street Zen cut shares of Aeluma from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.50.

Aeluma Stock Performance

NASDAQ:ALMU opened at $17.05 on Monday. The stock’s 50-day moving average is $15.15. The company has a market cap of $304.51 million and a P/E ratio of -63.15. Aeluma has a 52-week low of $5.69 and a 52-week high of $25.88.

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

Insider Buying and Selling at Aeluma

In other Aeluma news, major shareholder Mark N. Tompkins sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 26th. The shares were sold at an average price of $17.79, for a total value of $533,700.00. Following the transaction, the insider directly owned 2,024,988 shares of the company’s stock, valued at approximately $36,024,536.52. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 751,845 shares of company stock worth $12,904,615 in the last ninety days. Insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Aeluma

Several hedge funds have recently bought and sold shares of the company. JNBA Financial Advisors bought a new stake in shares of Aeluma in the second quarter worth $52,000. Atria Wealth Solutions Inc. increased its stake in Aeluma by 3.1% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company’s stock valued at $275,000 after buying an additional 500 shares during the last quarter. Geode Capital Management LLC bought a new stake in Aeluma during the 2nd quarter worth about $3,850,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Aeluma during the 2nd quarter worth about $32,000. Finally, Cetera Investment Advisers acquired a new position in shares of Aeluma during the 2nd quarter worth about $613,000.

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.