Analysts Set Aeluma, Inc. (NASDAQ:ALMU) Price Target at $25.33

Shares of Aeluma, Inc. (NASDAQ:ALMU) have been assigned a consensus rating of “Moderate Buy” from the five brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $25.3333.

A number of research analysts recently weighed in on ALMU shares. Freedom Capital upgraded Aeluma to a “strong-buy” rating in a report on Tuesday, March 31st. Benchmark restated a “buy” rating and set a $25.00 price target on shares of Aeluma in a research note on Tuesday, March 3rd. Williams Trading set a $25.00 target price on Aeluma in a report on Tuesday, March 3rd. UBS Group restated a “buy” rating on shares of Aeluma in a report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, January 21st.

Aeluma Stock Performance

ALMU stock opened at $13.44 on Thursday. The company has a market cap of $241.92 million and a price-to-earnings ratio of -95.99. The firm has a 50-day moving average of $15.20 and a two-hundred day moving average of $16.24. Aeluma has a 12 month low of $5.79 and a 12 month high of $25.88.

Insider Activity at Aeluma

In related news, major shareholder Mark N. Tompkins sold 45,000 shares of the stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $18.82, for a total value of $846,900.00. Following the completion of the sale, the insider directly owned 1,949,988 shares in the company, valued at approximately $36,698,774.16. This represents a 2.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven Denbaars sold 12,500 shares of the firm’s stock in a transaction dated 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 directly owned 397,588 shares in the company, valued at $6,989,597.04. This trade represents a 3.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 317,000 shares of company stock worth $5,436,095. 14.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aeluma

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new stake in Aeluma during the 4th quarter valued at approximately $32,000. XTX Topco Ltd purchased a new position in shares of Aeluma during the 4th quarter valued at approximately $247,000. Quadrature Capital Ltd grew its position in shares of Aeluma by 61.3% during the fourth quarter. Quadrature Capital Ltd now owns 20,711 shares of the company’s stock worth $356,000 after buying an additional 7,871 shares in the last quarter. &PARTNERS grew its position in shares of Aeluma by 6.5% during the fourth quarter. &PARTNERS now owns 15,057 shares of the company’s stock worth $259,000 after buying an additional 923 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Aeluma in the fourth quarter worth $320,000.

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.