Aeluma (NASDAQ:ALMU) Shares Up 8.4% – Still a Buy?

Aeluma, Inc. (NASDAQ:ALMU) was up 8.4% during trading on Monday . The company traded as high as $25.08 and last traded at $24.49. Approximately 872,775 shares changed hands during trading, a decline of 25% from the average daily volume of 1,158,800 shares. The stock had previously closed at $22.59.

Analyst Ratings Changes

A number of research analysts recently commented on ALMU shares. Freedom Capital upgraded shares of Aeluma to a “strong-buy” rating in a research note on Tuesday, March 31st. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Aeluma in a research note on Tuesday, March 3rd. UBS Group reiterated a “buy” rating on shares of Aeluma in a research note on Tuesday, March 3rd. Wall Street Zen lowered shares of Aeluma from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Finally, Williams Trading set a $25.00 price objective on shares of Aeluma in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Aeluma presently has a consensus rating of “Moderate Buy” and an average price target of $25.33.

Aeluma Stock Up 8.4%

The stock has a market cap of $448.29 million, a price-to-earnings ratio of -69.97 and a beta of 3.94. The company’s 50-day simple moving average is $19.95 and its 200-day simple moving average is $17.60.

Aeluma (NASDAQ:ALMU) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%. The firm had revenue of $1.22 million for the quarter, compared to analyst estimates of $1.37 million.

Insider Activity at Aeluma

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $19.99, for a total transaction of $249,875.00. Following the transaction, the director directly owned 382,709 shares in the company, valued at approximately $7,650,352.91. The trade was a 3.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jonathan Klamkin sold 20,000 shares of Aeluma stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $24.96, for a total transaction of $499,200.00. Following the transaction, the chief executive officer owned 2,403 shares in the company, valued at approximately $59,978.88. The trade was a 89.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 52,500 shares of company stock worth $1,011,075. Corporate insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Aeluma

A number of institutional investors have recently modified their holdings of ALMU. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Aeluma during the 4th quarter valued at $27,000. Quantbot Technologies LP acquired a new stake in shares of Aeluma during the 3rd quarter valued at $29,000. BNP Paribas Financial Markets boosted its stake in shares of Aeluma by 79.2% during the 3rd 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. acquired a new stake in shares of Aeluma during the 2nd quarter valued at $32,000. Finally, State of Wyoming acquired a new stake in shares of Aeluma during the 4th quarter valued at $35,000.

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. Aeluma, Inc was formerly known as Parc Investments, Inc and changed its name to Aeluma, Inc June 2021.