Aeluma, Inc. (NASDAQ:ALMU) Given Consensus Recommendation of “Moderate Buy” by Analysts

Aeluma, Inc. (NASDAQ:ALMU) has earned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $25.3333.

ALMU has been the topic of a number of recent analyst reports. Freedom Capital raised shares of Aeluma to a “strong-buy” rating in a research note on Tuesday. Williams Trading set a $25.00 price objective on Aeluma in a report on Tuesday, March 3rd. Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Aeluma in a research report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a report on Wednesday, January 21st. Finally, UBS Group restated a “buy” rating on shares of Aeluma in a research note on Tuesday, March 3rd.

Aeluma Stock Performance

ALMU opened at $12.85 on Thursday. Aeluma has a 1 year low of $5.79 and a 1 year high of $25.88. The company’s 50 day simple moving average is $15.35 and its 200 day simple moving average is $16.28. The stock has a market capitalization of $231.34 million and a PE ratio of -91.78.

Insider Buying and Selling

In related news, major shareholder Mark N. Tompkins sold 34,500 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $14.71, for a total transaction of $507,495.00. Following the completion of the sale, the insider owned 1,790,488 shares of the company’s stock, valued at approximately $26,338,078.48. This represents a 1.89% 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. Also, CEO Jonathan Klamkin sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The shares were 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 in the company, valued at $25,800,633.90. The trade was a 3.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 297,000 shares of company stock valued at $5,174,095. 14.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Aeluma

Several institutional investors and hedge funds have recently made changes to their positions in ALMU. Caitong International Asset Management Co. Ltd acquired a new stake in Aeluma during the fourth quarter worth about $27,000. Quantbot Technologies LP bought a new position in Aeluma during the 3rd quarter worth $29,000. BNP Paribas Financial Markets increased its position in 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 buying an additional 855 shares during the period. Osaic Holdings Inc. bought a new stake in Aeluma in the second quarter valued at $32,000. Finally, State of Wyoming bought a new stake in Aeluma in the fourth quarter valued at $35,000.

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.