Aeluma (NASDAQ:ALMU) Director Steven Denbaars Sells 12,500 Shares

Aeluma, Inc. (NASDAQ:ALMU) Director Steven Denbaars sold 12,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $19.99, for a total transaction of $249,875.00. Following the sale, the director owned 382,709 shares in the company, valued at $7,650,352.91. The trade was a 3.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Steven Denbaars also recently made the following trade(s):

• On Wednesday, February 25th, Steven Denbaars sold 12,500 shares of Aeluma stock. The shares were sold at an average price of $17.58, for a total transaction of $219,750.00.

Aeluma Stock Up 11.3%

NASDAQ:ALMU traded up $2.36 during trading hours on Thursday, hitting $23.31. The stock had a trading volume of 1,696,501 shares, compared to its average volume of 2,107,797. The company has a 50 day simple moving average of $17.72 and a two-hundred day simple moving average of $16.85. Aeluma, Inc. has a one year low of $10.20 and a one year high of $31.79.

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

Hedge Funds Weigh In On Aeluma

Large investors have recently added to or reduced their stakes in the business. Polar Asset Management Partners Inc. purchased a new position in Aeluma in the 3rd quarter worth $3,398,000. Total Clarity Wealth Management Inc. purchased a new position in shares of Aeluma in the fourth quarter valued at about $740,000. Westside Investment Management Inc. increased its position in shares of Aeluma by 51.8% in the fourth quarter. Westside Investment Management Inc. now owns 50,300 shares of the company’s stock valued at $864,000 after acquiring an additional 17,165 shares during the period. FNY Investment Advisers LLC increased its position in shares of Aeluma by 242.9% in the third quarter. FNY Investment Advisers LLC now owns 2,935 shares of the company’s stock valued at $47,000 after acquiring an additional 2,079 shares during the period. Finally, Fortitude Advisory Group L.L.C. purchased a new position in shares of Aeluma in the first quarter valued at about $464,000.

Analysts Set New Price Targets

Several brokerages have commented on ALMU. Williams Trading set a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. UBS Group reissued a “buy” rating on shares of Aeluma in a report on Tuesday, March 3rd. Benchmark reissued a “buy” rating and issued a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. Freedom Capital raised shares of Aeluma to a “strong-buy” rating in a report on Tuesday, March 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.33.

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.