Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells 15,000 Shares of Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 15,000 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $14.87, for a total value of $223,050.00. Following the transaction, the insider owned 2,069,988 shares of the company’s stock, valued at $30,780,721.56. The trade was a 0.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Aeluma Stock Performance

Shares of NASDAQ:ALMU traded down $1.03 during mid-day trading on Monday, reaching $17.05. The stock had a trading volume of 486,746 shares, compared to its average volume of 361,036. The stock has a 50 day moving average of $15.15. Aeluma, Inc. has a twelve month low of $5.69 and a twelve month high of $25.88. The company has a market cap of $304.51 million and a price-to-earnings ratio of -63.15.

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

Hedge Funds Weigh In On Aeluma

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALMU. Quantbot Technologies LP acquired a new stake in shares of Aeluma in the 3rd quarter valued at about $29,000. BNP Paribas Financial Markets grew its holdings in shares of Aeluma by 79.2% during the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock worth $31,000 after buying an additional 855 shares in the last quarter. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Aeluma during the second quarter worth about $32,000. Osaic Holdings Inc. acquired a new stake in Aeluma in the 2nd quarter valued at approximately $32,000. Finally, JTC Employer Solutions Trustee Ltd bought a new stake in Aeluma in the 3rd quarter valued at approximately $39,000.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, October 8th. Wall Street Zen lowered Aeluma from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Aeluma in a research report on Monday. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus 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. Aeluma, Inc was formerly known as Parc Investments, Inc and changed its name to Aeluma, Inc June 2021.