Mark Tompkins Sells 45,000 Shares of Aeluma (NASDAQ:ALMU) Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 45,000 shares of the stock in a transaction dated Wednesday, January 21st. The shares were sold at an average price of $18.82, for a total transaction of $846,900.00. Following the completion of the sale, the insider owned 1,949,988 shares of the company’s stock, valued at $36,698,774.16. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Aeluma Trading Down 5.2%

ALMU opened at $16.74 on Friday. Aeluma, Inc. has a twelve month low of $5.69 and a twelve month high of $25.88. The firm has a market capitalization of $298.98 million and a PE ratio of -62.00. The firm’s 50-day moving average price is $16.89 and its 200 day moving average price is $17.64.

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

Institutional Trading of Aeluma

Hedge funds and other institutional investors have recently modified their holdings of the business. Manchester Capital Management LLC acquired a new stake in shares of Aeluma during the second quarter valued at about $409,000. JNBA Financial Advisors purchased a new position in shares of Aeluma during the 2nd quarter worth approximately $52,000. Atria Wealth Solutions Inc. increased its holdings 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 purchasing an additional 500 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Aeluma by 79.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock valued at $31,000 after purchasing an additional 855 shares during the last quarter. Finally, Westside Investment Management Inc. raised its position in Aeluma by 51.8% in the fourth quarter. Westside Investment Management Inc. now owns 50,300 shares of the company’s stock valued at $864,000 after purchasing an additional 17,165 shares during the period.

Analysts Set New Price Targets

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

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.