Aeluma, Inc. (NASDAQ:ALMU) Short Interest Up 31.2% in January

Aeluma, Inc. (NASDAQ:ALMU) saw a significant growth in short interest in the month of January. As of January 30th, there was short interest totaling 1,995,130 shares, a growth of 31.2% from the January 15th total of 1,520,223 shares. Approximately 13.1% of the shares of the company are sold short. Based on an average daily volume of 438,036 shares, the short-interest ratio is presently 4.6 days. Based on an average daily volume of 438,036 shares, the short-interest ratio is presently 4.6 days. Approximately 13.1% of the shares of the company are sold short.

Aeluma Stock Performance

Shares of NASDAQ:ALMU opened at $15.98 on Wednesday. The stock has a market capitalization of $288.44 million and a price-to-earnings ratio of -114.13. Aeluma has a 1-year low of $5.69 and a 1-year high of $25.88. The company has a 50 day moving average price of $17.43 and a 200 day moving average price of $17.17.

Analysts Set New Price Targets

Several research firms have recently issued reports on ALMU. Wall Street Zen cut 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 note on Wednesday, January 21st. Finally, Benchmark reissued a “buy” rating and issued a $25.00 price objective on shares of Aeluma in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Aeluma presently has a consensus rating of “Hold” and a consensus target price of $25.50.

Insider Buying and Selling at Aeluma

In related news, major shareholder Mark N. Tompkins sold 34,500 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $14.71, for a total value of $507,495.00. Following the completion of the transaction, the insider owned 1,790,488 shares in the company, valued at $26,338,078.48. This represents a 1.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 484,500 shares of company stock worth $8,033,745 in the last quarter. 14.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Aeluma

Institutional investors and hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC acquired a new position in shares of Aeluma in the second quarter worth about $409,000. Atria Wealth Solutions Inc. lifted its position in shares of 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. Apis Capital Advisors LLC boosted its stake in Aeluma by 4.8% in the 3rd quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company’s stock worth $4,082,000 after purchasing an additional 11,545 shares during the period. BNP Paribas Financial Markets boosted its stake in 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 during the period. Finally, Quantbot Technologies LP purchased a new position in Aeluma during the 3rd quarter worth approximately $29,000.

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.