Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells $441,000.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $14.70, for a total value of $441,000.00. Following the completion of the transaction, the insider owned 2,119,988 shares of the company’s stock, valued at approximately $31,163,823.60. The trade was a 1.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Aeluma Stock Performance

Shares of ALMU stock opened at $16.09 on Thursday. The business has a fifty day moving average price of $15.16. The stock has a market capitalization of $287.37 million and a PE ratio of -59.59. Aeluma, Inc. has a twelve month low of $5.69 and a twelve month high of $25.88.

Aeluma (NASDAQ:ALMU) last announced its earnings results on Wednesday, November 12th. The company reported ($0.03) EPS for the quarter. The business 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%.

Institutional Investors Weigh In On Aeluma

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in Aeluma in the 3rd quarter valued at approximately $29,000. BNP Paribas Financial Markets increased its holdings in shares of Aeluma by 79.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock worth $31,000 after purchasing an additional 855 shares in the last quarter. Osaic Holdings Inc. purchased a new position in shares of Aeluma in the second quarter worth $32,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Aeluma during the second quarter valued at $32,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Aeluma during the third quarter valued at $39,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ALMU shares. Wall Street Zen lowered shares of Aeluma from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, October 8th. Finally, Benchmark reissued a “buy” rating and issued a $25.00 target price on shares of Aeluma in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Aeluma has a consensus rating of “Hold” and a consensus target price of $25.50.

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