Aeluma (NASDAQ:ALMU) Major Shareholder Sells $547,252.79 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 31,147 shares of Aeluma stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $17.57, for a total value of $547,252.79. Following the sale, the insider directly owned 2,740,186 shares of the company’s stock, valued at $48,145,068.02. This represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Aeluma Stock Up 1.8%

NASDAQ:ALMU opened at $17.86 on Thursday. The company has a market capitalization of $318.80 million and a price-to-earnings ratio of -74.42. Aeluma, Inc. has a 52-week low of $2.52 and a 52-week high of $25.88. The company’s fifty day simple moving average is $18.73.

Wall Street Analyst Weigh In

ALMU has been the topic of a number of research reports. Benchmark restated a “buy” rating and set a $25.00 price target on shares of Aeluma in a research report on Wednesday, September 24th. Craig Hallum initiated coverage on Aeluma in a research report on Monday, July 14th. They set a “buy” rating and a $26.00 price target on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $25.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ALMU. JNBA Financial Advisors purchased a new position in shares of Aeluma in the second quarter worth about $52,000. Atria Wealth Solutions Inc. increased its holdings in shares of Aeluma by 3.1% in the second quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company’s stock worth $275,000 after buying an additional 500 shares during the period. Geode Capital Management LLC purchased a new position in shares of Aeluma in the second quarter worth about $3,850,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Aeluma in the second quarter worth about $32,000. Finally, Cetera Investment Advisers purchased a new position in shares of Aeluma in the second quarter worth about $613,000.

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.