Aeluma (NASDAQ:ALMU) Given Buy Rating at Benchmark

Benchmark reissued their buy rating on shares of Aeluma (NASDAQ:ALMU) in a report released on Tuesday, Marketbeat reports. Benchmark currently has a $25.00 price objective on the stock.

Several other research analysts also recently issued reports on ALMU. Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a report on Wednesday, January 21st. Wall Street Zen lowered shares of Aeluma from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Three research 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, the company has an average rating of “Moderate Buy” and an average price target of $25.33.

Aeluma Trading Up 0.2%

Shares of ALMU stock opened at $19.28 on Tuesday. The company has a market capitalization of $348.00 million and a P/E ratio of -137.70. Aeluma has a 12 month low of $5.79 and a 12 month high of $25.88. The stock has a 50 day moving average of $17.59 and a two-hundred day moving average of $16.93.

Insider Activity at Aeluma

In other news, major shareholder Mark N. Tompkins sold 45,000 shares of the company’s 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 transaction, the insider directly owned 1,949,988 shares of the company’s stock, valued at approximately $36,698,774.16. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 497,000 shares of company stock worth $8,253,495 over the last ninety days. 14.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Aeluma

Several hedge funds and other institutional investors have recently modified their holdings of ALMU. Vanguard Group Inc. increased its position in Aeluma by 98.1% during the third quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock valued at $7,067,000 after acquiring an additional 217,430 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Aeluma by 22.5% in the fourth quarter. Geode Capital Management LLC now owns 285,732 shares of the company’s stock worth $4,907,000 after buying an additional 52,565 shares during the period. Apis Capital Advisors LLC lifted its stake in shares of Aeluma by 4.8% during the 3rd quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company’s stock worth $4,082,000 after acquiring an additional 11,545 shares during the last quarter. State Street Corp lifted its stake in shares of Aeluma by 34.0% during the 4th quarter. State Street Corp now owns 213,405 shares of the company’s stock worth $3,664,000 after acquiring an additional 54,184 shares during the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new position in Aeluma during the 3rd quarter valued at $3,398,000.

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.