Jonathan Klamkin Sells 50,000 Shares of Aeluma (NASDAQ:ALMU) Stock

Aeluma, Inc. (NASDAQ:ALMU) CEO Jonathan Klamkin sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.05, for a total transaction of $902,500.00. Following the completion of the transaction, the chief executive officer owned 1,429,398 shares of the company’s stock, valued at $25,800,633.90. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Aeluma Stock Down 14.4%

ALMU stock traded down $2.64 during midday trading on Thursday, reaching $15.72. The stock had a trading volume of 1,092,170 shares, compared to its average volume of 518,883. The business has a fifty day simple moving average of $17.62 and a two-hundred day simple moving average of $16.93. The firm has a market cap of $283.75 million and a price-to-earnings ratio of -112.28. Aeluma, Inc. has a twelve month low of $5.79 and a twelve month high of $25.88.

Analyst Ratings Changes

ALMU has been the subject of several recent research reports. Williams Trading set a $25.00 target price on shares of Aeluma in a research report on Tuesday. UBS Group reiterated a “buy” rating on shares of Aeluma in a report on Tuesday. Benchmark restated a “buy” rating and set a $25.00 target price on shares of Aeluma in a report on Tuesday. Wall Street Zen lowered Aeluma from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $25.33.

Institutional Investors Weigh In On Aeluma

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Aeluma by 98.1% in the third quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock valued at $7,067,000 after purchasing an additional 217,430 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Aeluma by 22.5% during the fourth quarter. Geode Capital Management LLC now owns 285,732 shares of the company’s stock worth $4,907,000 after buying an additional 52,565 shares in the last quarter. Apis Capital Advisors LLC raised its position in Aeluma by 4.8% in the 3rd quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company’s stock valued at $4,082,000 after buying an additional 11,545 shares during the last quarter. State Street Corp lifted its stake in Aeluma by 34.0% in the 4th quarter. State Street Corp now owns 213,405 shares of the company’s stock valued at $3,664,000 after acquiring an additional 54,184 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in Aeluma during the third quarter worth $3,398,000.

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.