Aeluma (NASDAQ:ALMU) Posts Earnings Results

Aeluma (NASDAQ:ALMU) issued its quarterly earnings data on Wednesday. The company reported ($0.03) earnings per share for the quarter, Zacks reports. Aeluma had a negative net margin of 64.79% and a negative return on equity of 40.79%.

Aeluma Trading Down 2.4%

Shares of ALMU stock traded down $0.35 during trading hours on Wednesday, hitting $14.05. The company’s stock had a trading volume of 349,527 shares, compared to its average volume of 252,128. Aeluma has a twelve month low of $3.08 and a twelve month high of $25.88. The firm has a market capitalization of $250.79 million and a PE ratio of -58.54. The stock has a fifty day moving average of $16.84.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $25.00 price objective on shares of Aeluma in a report on Wednesday, September 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $25.50.

Insider Transactions at Aeluma

In other Aeluma news, major shareholder Mark N. Tompkins sold 63,604 shares of Aeluma stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $18.70, for a total value of $1,189,394.80. Following the completion of the sale, the insider directly owned 2,676,582 shares of the company’s stock, valued at approximately $50,052,083.40. The trade was a 2.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jonathan Klamkin sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $18.85, for a total transaction of $2,827,500.00. Following the completion of the sale, the chief executive officer owned 1,479,398 shares of the company’s stock, valued at approximately $27,886,652.30. The trade was a 9.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 710,425 shares of company stock worth $12,733,125.

Institutional Investors Weigh In On Aeluma

A number of institutional investors have recently added to or reduced their stakes in ALMU. Quantbot Technologies LP acquired a new stake in shares of Aeluma during the 3rd quarter valued at $29,000. Osaic Holdings Inc. acquired a new stake in Aeluma during the second quarter valued at $32,000. JPMorgan Chase & Co. acquired a new position in Aeluma during the second quarter worth $74,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Aeluma in the 2nd quarter worth approximately $86,000. Finally, Bank of America Corp DE acquired a new position in Aeluma during the 2nd quarter worth $98,000.

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.