Mark Tompkins Sells 25,000 Shares of Aeluma (NASDAQ:ALMU) Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $17.57, for a total value of $439,250.00. Following the sale, the insider directly owned 2,890,833 shares of the company’s stock, valued at $50,791,935.81. This represents a 0.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Aeluma Trading Up 6.9%

Aeluma stock opened at $18.01 on Friday. Aeluma, Inc. has a fifty-two week low of $2.52 and a fifty-two week high of $25.88. The stock’s 50-day moving average price is $19.07. The stock has a market capitalization of $321.48 million and a PE ratio of -75.04.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Aeluma in a report on Wednesday, September 24th. Craig Hallum started coverage on Aeluma in a research note on Monday, July 14th. They issued a “buy” rating and a $26.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $25.50.

Institutional Trading of Aeluma

Hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. purchased a new position in shares of Aeluma in the second quarter worth about $32,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Aeluma during the 2nd quarter valued at approximately $32,000. JNBA Financial Advisors bought a new position in Aeluma in the 2nd quarter worth approximately $52,000. JPMorgan Chase & Co. purchased a new position in Aeluma in the 2nd quarter valued at approximately $74,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Aeluma during the 2nd quarter valued at $86,000.

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.