Aeluma (NASDAQ:ALMU) Major Shareholder Sells $482,250.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 25,000 shares of the firm’s stock in a transaction on Thursday, October 16th. The stock was sold at an average price of $19.29, for a total value of $482,250.00. Following the completion of the transaction, the insider directly owned 2,397,488 shares of the company’s stock, valued at $46,247,543.52. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Aeluma Stock Down 10.8%

Aeluma stock opened at $16.70 on Monday. Aeluma, Inc. has a one year low of $2.52 and a one year high of $25.88. The stock has a fifty day moving average of $18.34. The company has a market capitalization of $298.10 million and a price-to-earnings ratio of -69.58.

Aeluma (NASDAQ:ALMU) last posted its quarterly 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%.

Institutional Investors Weigh In On Aeluma

A number of large investors have recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. raised its position in Aeluma by 3.1% during the second quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company’s stock valued at $275,000 after purchasing an additional 500 shares in the last quarter. Osaic Holdings Inc. purchased a new stake in Aeluma during the second quarter valued at about $32,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Aeluma during the second quarter valued at about $32,000. JNBA Financial Advisors purchased a new stake in Aeluma during the second quarter valued at about $52,000. Finally, JPMorgan Chase & Co. purchased a new stake in Aeluma during the second quarter valued at about $74,000.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Aeluma in a research report on Wednesday, September 24th. Craig Hallum assumed coverage on Aeluma in a research report on Monday, July 14th. They issued a “buy” rating and a $26.00 price objective on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Aeluma has an average rating of “Hold” and a consensus price target of $25.50.

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.