Aeluma (NASDAQ:ALMU) Trading Up 17.2% – What’s Next?

Aeluma, Inc. (NASDAQ:ALMU)’s share price was up 17.2% on Monday . The stock traded as high as $27.60 and last traded at $28.61. Approximately 812,007 shares traded hands during trading, a decline of 20% from the average daily volume of 1,012,691 shares. The stock had previously closed at $24.41.

Analysts Set New Price Targets

Several analysts have weighed in on ALMU shares. Benchmark reaffirmed a “buy” rating and set a $25.00 price objective on shares of Aeluma in a research note on Tuesday, March 3rd. Williams Trading set a $25.00 price objective on shares of Aeluma in a research note on Tuesday, March 3rd. Freedom Capital raised shares of Aeluma to a “strong-buy” rating in a research note on Tuesday, March 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research note on Monday, April 20th. Finally, UBS Group reaffirmed a “buy” rating on shares of Aeluma in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Aeluma Stock Up 15.4%

The stock’s 50-day moving average price is $16.06 and its 200-day moving average price is $16.21. The company has a market capitalization of $507.24 million, a price-to-earnings ratio of -201.27 and a beta of 4.49.

Insider Buying and Selling

In other news, Director Steven Denbaars sold 12,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $17.58, for a total transaction of $219,750.00. Following the transaction, the director directly owned 397,588 shares in the company, valued at approximately $6,989,597.04. This represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Klamkin sold 50,000 shares of the company’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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 102,500 shares of company stock worth $1,883,450 over the last quarter. 14.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Aeluma

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd acquired a new position in Aeluma in the fourth quarter valued at approximately $27,000. Quantbot Technologies LP acquired a new position in Aeluma in the third quarter valued at approximately $29,000. BNP Paribas Financial Markets lifted its holdings in Aeluma by 79.2% in the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock valued at $31,000 after buying an additional 855 shares during the period. Osaic Holdings Inc. acquired a new position in Aeluma in the second quarter valued at approximately $32,000. Finally, State of Wyoming acquired a new position in Aeluma in the fourth quarter valued at approximately $35,000.

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.