Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells $507,495.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 34,500 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $14.71, for a total transaction of $507,495.00. Following the transaction, the insider directly owned 1,790,488 shares in the company, valued at $26,338,078.48. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Aeluma Stock Up 8.7%

Shares of NASDAQ ALMU opened at $15.06 on Monday. The stock’s 50 day moving average price is $17.42 and its 200-day moving average price is $17.53. Aeluma, Inc. has a twelve month low of $5.69 and a twelve month high of $25.88. The company has a market capitalization of $268.94 million and a PE ratio of -55.78.

Aeluma (NASDAQ:ALMU) last announced its quarterly earnings data 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%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP purchased a new position in shares of Aeluma during the third quarter valued at approximately $29,000. BNP Paribas Financial Markets raised its stake in Aeluma by 79.2% during the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock valued at $31,000 after buying an additional 855 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Aeluma in the 2nd quarter worth about $32,000. Osaic Holdings Inc. purchased a new position in Aeluma in the second quarter worth about $32,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in Aeluma in the 3rd quarter worth approximately $39,000.

Wall Street Analyst Weigh In

Several research firms have commented on ALMU. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a report on Wednesday, January 21st. Benchmark reaffirmed a “buy” rating and issued a $25.00 price target on shares of Aeluma in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Aeluma from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.50.

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.