Aeluma, Inc. (NASDAQ:ALMU) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Aeluma, Inc. (NASDAQ:ALMU) have been assigned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $25.3333.

A number of research analysts recently commented on ALMU shares. Freedom Capital raised shares of Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. Wall Street Zen downgraded shares of Aeluma from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Benchmark reaffirmed a “buy” rating and set a $25.00 price objective on shares of Aeluma in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research report on Monday, April 20th. Finally, Williams Trading set a $25.00 target price on shares of Aeluma in a research report on Tuesday, March 3rd.

Insider Activity at Aeluma

In other news, CEO Jonathan Klamkin sold 20,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $24.96, for a total value of $499,200.00. Following the completion of the sale, the chief executive officer directly owned 2,403 shares in the company, valued at approximately $59,978.88. The trade was a 89.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of the business’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total transaction of $249,875.00. Following the completion of the sale, the director owned 382,709 shares of the company’s stock, valued at $7,650,352.91. The trade was a 3.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,500 shares of company stock valued at $1,011,075 over the last three months. Insiders own 14.70% of the company’s stock.

Institutional Trading of Aeluma

A number of institutional investors and hedge funds have recently modified their holdings of ALMU. Polar Asset Management Partners Inc. bought a new stake in Aeluma in the 3rd quarter valued at $3,398,000. Total Clarity Wealth Management Inc. bought a new stake in Aeluma in the 4th quarter valued at $740,000. Westside Investment Management Inc. boosted its holdings in Aeluma by 51.8% in the 4th quarter. Westside Investment Management Inc. now owns 50,300 shares of the company’s stock valued at $864,000 after purchasing an additional 17,165 shares during the period. FNY Investment Advisers LLC boosted its holdings in Aeluma by 242.9% in the 3rd quarter. FNY Investment Advisers LLC now owns 2,935 shares of the company’s stock valued at $47,000 after purchasing an additional 2,079 shares during the period. Finally, Apis Capital Advisors LLC boosted its holdings 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 purchasing an additional 11,545 shares during the period.

Aeluma Price Performance

Shares of ALMU opened at $24.19 on Tuesday. The firm’s 50 day moving average is $22.26 and its 200-day moving average is $18.33. The stock has a market capitalization of $442.92 million, a P/E ratio of -69.11 and a beta of 3.94. Aeluma has a 12-month low of $10.24 and a 12-month high of $31.79.

Aeluma (NASDAQ:ALMU) last released its quarterly earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%. The business had revenue of $1.22 million for the quarter, compared to analyst estimates of $1.37 million.

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.