Aeluma (NASDAQ:ALMU) Major Shareholder Mark Tompkins Sells 35,000 Shares of Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 35,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $17.47, for a total transaction of $611,450.00. Following the transaction, the insider directly owned 2,606,582 shares in the company, valued at approximately $45,536,987.54. This trade represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Aeluma Trading Down 7.6%

Shares of NASDAQ:ALMU opened at $16.50 on Friday. The stock has a market capitalization of $294.53 million and a price-to-earnings ratio of -68.75. The stock’s 50 day moving average is $18.62. Aeluma, Inc. has a one year low of $2.52 and a one year high of $25.88.

Aeluma (NASDAQ:ALMU) last issued its earnings results on Thursday, November 9th. The company reported ($0.11) EPS for the quarter. Aeluma had a negative return on equity of 40.79% and a negative net margin of 64.79%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALMU. Benchmark reissued a “buy” rating and set a $25.00 price objective on shares of Aeluma in a report on Wednesday, September 24th. Craig Hallum began coverage on shares of Aeluma in a report on Monday, July 14th. They set a “buy” rating and a $26.00 price objective on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a report on Wednesday. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Aeluma currently has a consensus rating of “Hold” and an average price target of $25.50.

Hedge Funds Weigh In On Aeluma

Several institutional investors and hedge funds have recently bought and sold shares of the company. Atria Wealth Solutions Inc. grew its holdings in Aeluma by 3.1% in the second quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company’s stock worth $275,000 after purchasing an additional 500 shares during the last quarter. Osaic Holdings Inc. purchased a new position in Aeluma in the second quarter worth $32,000. Police & Firemen s Retirement System of New Jersey purchased a new position in Aeluma in the second quarter worth $32,000. JNBA Financial Advisors purchased a new position in Aeluma in the second quarter worth $52,000. Finally, JPMorgan Chase & Co. purchased a new position in Aeluma in the second quarter worth $74,000.

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.