Aeluma (NASDAQ:ALMU) Major Shareholder Sells $533,700.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, December 26th. The stock was sold at an average price of $17.79, for a total value of $533,700.00. Following the transaction, the insider directly owned 2,024,988 shares in the company, valued at $36,024,536.52. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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

Aeluma stock traded down $1.03 during mid-day trading on Monday, hitting $17.05. 486,746 shares of the company’s stock traded hands, compared to its average volume of 361,036. The company has a 50 day moving average of $15.15. Aeluma, Inc. has a fifty-two week low of $5.69 and a fifty-two week high of $25.88. The stock has a market capitalization of $304.51 million and a PE ratio of -63.15.

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

Analysts Set New Price Targets

Several brokerages have issued reports on ALMU. Benchmark restated a “buy” rating and set a $25.00 price objective on shares of Aeluma in a research report on Monday. Wall Street Zen downgraded Aeluma from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $25.50.

Hedge Funds Weigh In On Aeluma

A number of hedge funds have recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. raised its holdings in Aeluma by 3.1% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company’s stock valued at $275,000 after acquiring an additional 500 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Aeluma by 79.2% in the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock worth $31,000 after purchasing an additional 855 shares during the period. Quantbot Technologies LP acquired a new position in Aeluma in the third quarter valued at about $29,000. Osaic Holdings Inc. bought a new stake in Aeluma during the second quarter worth about $32,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in Aeluma during the second quarter worth about $32,000.

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