Aeluma (NASDAQ:ALMU) Upgraded at Freedom Capital

Freedom Capital upgraded shares of Aeluma (NASDAQ:ALMU) to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on the stock. Benchmark reissued a “buy” rating and set a $25.00 price target on shares of Aeluma in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, January 21st. UBS Group reaffirmed a “buy” rating on shares of Aeluma in a report on Tuesday, March 3rd. Finally, Williams Trading set a $25.00 target price on shares of Aeluma in a research report on Tuesday, March 3rd. 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 company’s stock. According to data from MarketBeat, Aeluma currently has a consensus rating of “Moderate Buy” and an average target price of $25.33.

Aeluma Trading Up 4.6%

Shares of NASDAQ:ALMU opened at $13.44 on Tuesday. Aeluma has a 1-year low of $5.79 and a 1-year high of $25.88. The stock has a market capitalization of $241.92 million and a P/E ratio of -95.99. The business has a 50-day moving average price of $15.27 and a two-hundred day moving average price of $16.26.

Insider Buying and Selling at Aeluma

In other news, Director Steven Denbaars sold 12,500 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $17.58, for a total value of $219,750.00. Following the completion of the transaction, the director owned 397,588 shares of the company’s stock, valued at $6,989,597.04. The trade was a 3.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jonathan Klamkin sold 50,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer owned 1,429,398 shares of the company’s stock, valued at approximately $25,800,633.90. This represents a 3.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 297,000 shares of company stock valued at $5,174,095. Corporate insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALMU. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Aeluma during the fourth quarter worth about $27,000. Quantbot Technologies LP acquired a new position in shares of Aeluma in the 3rd quarter valued at approximately $29,000. BNP Paribas Financial Markets grew its position 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 valued at $31,000 after purchasing an additional 855 shares during the period. Osaic Holdings Inc. bought a new stake in Aeluma during the 2nd quarter worth approximately $32,000. Finally, State of Wyoming bought a new stake in Aeluma during the 4th quarter worth approximately $35,000.

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.