Aeluma (NASDAQ:ALMU) Major Shareholder Sells $519,050.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 35,000 shares of the stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $14.83, for a total value of $519,050.00. Following the completion of the transaction, the insider directly owned 2,084,988 shares in the company, valued at $30,920,372.04. This trade represents a 1.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Aeluma Price Performance

Shares of NASDAQ ALMU opened at $16.09 on Thursday. The stock has a market cap of $287.37 million and a P/E ratio of -59.59. The business’s 50-day simple moving average is $15.16. Aeluma, Inc. has a 1 year low of $5.69 and a 1 year high of $25.88.

Aeluma (NASDAQ:ALMU) last released its quarterly earnings data on Wednesday, November 12th. The company reported ($0.03) EPS for the quarter. Aeluma had a negative net margin of 67.97% and a negative return on equity of 18.15%. The business had revenue of $1.39 million during the quarter.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Benchmark reissued a “buy” rating and set a $25.00 price objective on shares of Aeluma in a report on Wednesday, September 24th. Wall Street Zen downgraded shares of Aeluma from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $25.50.

Hedge Funds Weigh In On Aeluma

A number of hedge funds have recently modified their holdings of ALMU. Quantbot Technologies LP purchased a new stake in Aeluma in the 3rd quarter valued at $29,000. BNP Paribas Financial Markets increased its stake in 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 purchasing an additional 855 shares during the period. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Aeluma during the second quarter worth about $32,000. Osaic Holdings Inc. purchased a new position in shares of Aeluma during the second quarter worth about $32,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in shares of Aeluma during the third quarter worth about $39,000.

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.