Aeluma (NASDAQ:ALMU) Major Shareholder Sells $287,400.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 20,000 shares of the stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $14.37, for a total transaction of $287,400.00. Following the sale, the insider owned 2,149,988 shares in the company, valued at $30,895,327.56. The trade was a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Aeluma Stock Up 8.1%

Shares of NASDAQ:ALMU opened at $16.09 on Thursday. The firm has a 50 day moving average price of $15.16. Aeluma, Inc. has a 12 month low of $5.69 and a 12 month high of $25.88. The firm has a market cap of $287.37 million and a PE ratio of -59.59.

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. Aeluma had a negative net margin of 67.97% and a negative return on equity of 18.15%. The firm had revenue of $1.39 million during the quarter.

Institutional Investors Weigh In On Aeluma

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP bought a new position in Aeluma in the third quarter valued at about $29,000. BNP Paribas Financial Markets increased its stake in shares of Aeluma by 79.2% in 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 period. Osaic Holdings Inc. bought a new position in Aeluma in the 2nd quarter valued at approximately $32,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Aeluma during the 2nd quarter worth approximately $32,000. Finally, JTC Employer Solutions Trustee Ltd bought a new stake in Aeluma during the 3rd quarter worth approximately $39,000.

Analyst Ratings Changes

ALMU has been the subject of several recent analyst reports. Wall Street Zen downgraded Aeluma from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, October 8th. Finally, Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Aeluma in a research note on Wednesday, September 24th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Aeluma presently has an average rating of “Hold” and a consensus price target of $25.50.

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.