Aeluma’s (ALMU) Buy Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Aeluma (NASDAQ:ALMU) in a research note released on Tuesday morning, Marketbeat Ratings reports. Benchmark currently has a $25.00 price objective on the stock.

Several other analysts have also commented on the stock. Wall Street Zen lowered shares of Aeluma from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $25.33.

Aeluma Price Performance

Shares of NASDAQ ALMU opened at $15.72 on Tuesday. The stock has a market capitalization of $283.73 million and a P/E ratio of -112.28. Aeluma has a 1-year low of $5.79 and a 1-year high of $25.88. The business has a fifty day moving average price of $17.62 and a 200 day moving average price of $16.93.

Insider Buying and Selling

In other news, CEO Jonathan Klamkin sold 50,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 1,429,398 shares of the company’s stock, valued at $25,800,633.90. The trade was a 3.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Mark N. Tompkins sold 45,000 shares of the company’s stock in a transaction on Wednesday, January 21st. The shares were sold at an average price of $18.82, for a total value of $846,900.00. Following the completion of the transaction, the insider directly owned 1,949,988 shares in the company, valued at approximately $36,698,774.16. The trade was a 2.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 517,000 shares of company stock worth $8,675,095 in the last 90 days. 14.70% of the stock is currently owned by company insiders.

Institutional Trading of Aeluma

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC purchased a new position in shares of Aeluma in the second quarter worth about $3,850,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in Aeluma in the second quarter valued at approximately $32,000. Cetera Investment Advisers acquired a new position in Aeluma in the 2nd quarter worth approximately $613,000. JPMorgan Chase & Co. purchased a new position in Aeluma during the 2nd quarter worth approximately $74,000. Finally, Rhumbline Advisers purchased a new position in Aeluma during the 2nd quarter worth approximately $228,000.

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.