Aeluma (NASDAQ:ALMU) Stock Price Down 17% – What’s Next?

Aeluma, Inc. (NASDAQ:ALMU)’s stock price fell 17% during mid-day trading on Friday . The company traded as low as $22.15 and last traded at $22.59. 1,367,315 shares changed hands during trading, an increase of 18% from the average session volume of 1,161,330 shares. The stock had previously closed at $27.21.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALMU. UBS Group reissued a “buy” rating on shares of Aeluma in a research report on Tuesday, March 3rd. Wall Street Zen downgraded Aeluma from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Freedom Capital raised Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. Benchmark reissued a “buy” rating and set a $25.00 price target on shares of Aeluma in a research report on Tuesday, March 3rd. Finally, Williams Trading set a $25.00 price target on Aeluma in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Aeluma Price Performance

The firm has a market cap of $413.51 million, a price-to-earnings ratio of -64.54 and a beta of 3.94. The stock has a 50-day moving average of $19.75 and a 200-day moving average of $17.53.

Aeluma (NASDAQ:ALMU) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $1.22 million for the quarter, compared to the consensus estimate of $1.37 million. Aeluma had a negative return on equity of 12.03% and a negative net margin of 115.57%.

Insiders Place Their Bets

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total value of $249,875.00. Following the sale, the director owned 382,709 shares of the company’s stock, valued at approximately $7,650,352.91. This trade represents a 3.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jonathan Klamkin sold 20,000 shares of the firm’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $24.96, for a total value of $499,200.00. Following the completion of the sale, the chief executive officer directly owned 2,403 shares in the company, valued at approximately $59,978.88. This represents a 89.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 52,500 shares of company stock worth $1,011,075. Company insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Aeluma

Large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Aeluma in the 4th quarter valued at $27,000. Quantbot Technologies LP acquired a new stake in shares of Aeluma in the 3rd quarter valued at $29,000. BNP Paribas Financial Markets boosted its holdings 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 in the last quarter. Osaic Holdings Inc. acquired a new stake in shares of Aeluma in the 2nd quarter valued at $32,000. Finally, State of Wyoming acquired a new stake in shares of Aeluma in the 4th quarter valued at $35,000.

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.