Insider Selling: Aeluma (NASDAQ:ALMU) CEO Sells $902,500.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) CEO Jonathan Klamkin sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $18.05, for a total transaction of $902,500.00. Following the transaction, the chief executive officer directly owned 1,429,398 shares of the company’s stock, valued at $25,800,633.90. This represents a 3.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Aeluma Stock Performance

ALMU stock opened at $15.02 on Friday. The firm has a 50 day moving average price of $17.56 and a 200-day moving average price of $16.90. Aeluma, Inc. has a 52-week low of $5.79 and a 52-week high of $25.88. The firm has a market capitalization of $271.11 million and a price-to-earnings ratio of -107.28.

Hedge Funds Weigh In On Aeluma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its holdings in shares of Aeluma by 79.2% in 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 in the last quarter. &PARTNERS raised its stake in shares of Aeluma by 6.5% in the fourth quarter. &PARTNERS now owns 15,057 shares of the company’s stock worth $259,000 after purchasing an additional 923 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Aeluma during the fourth quarter valued at $27,000. Quantbot Technologies LP bought a new position in shares of Aeluma during the third quarter valued at $29,000. Finally, Osaic Holdings Inc. purchased a new stake in shares of Aeluma during the second quarter valued at $32,000.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Williams Trading set a $25.00 price objective on Aeluma in a research note on Tuesday. UBS Group reissued a “buy” rating on shares of Aeluma in a research note on Tuesday. Benchmark restated a “buy” rating and set a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut shares of Aeluma from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $25.33.

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.