Aeluma, Inc. $ALMU Stock: Wedbush Securities Inc. Boosts Position

Wedbush Securities Inc. increased its holdings in shares of Aeluma, Inc. (NASDAQ:ALMU) by 586.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 352,775 shares of the company’s stock after acquiring an additional 301,350 shares during the period. Wedbush Securities Inc. owned approximately 1.83% of Aeluma worth $4,360,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Secure Asset Management LLC acquired a new stake in Aeluma in the third quarter valued at $136,000. Squarepoint Ops LLC purchased a new stake in shares of Aeluma during the 2nd quarter worth $269,000. Fortitude Advisory Group L.L.C. grew its stake in shares of Aeluma by 6.0% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 37,567 shares of the company’s stock worth $829,000 after purchasing an additional 2,132 shares during the period. JNBA Financial Advisors grew its stake in shares of Aeluma by 107.2% during the 2nd quarter. JNBA Financial Advisors now owns 3,340 shares of the company’s stock worth $74,000 after purchasing an additional 1,728 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Aeluma in the 2nd quarter valued at about $509,000.

Aeluma Stock Down 3.6%

Shares of ALMU traded down $0.26 on Friday, reaching $6.91. The stock had a trading volume of 560,167 shares, compared to its average volume of 630,349. The firm has a market capitalization of $133.50 million, a PE ratio of -13.29 and a beta of 4.10. The firm has a 50-day moving average of $12.37 and a 200 day moving average of $17.30. Aeluma, Inc. has a twelve month low of $6.89 and a twelve month high of $31.79.

Aeluma (NASDAQ:ALMU) last released its quarterly earnings data on Wednesday, September 16th. The company reported ($0.15) earnings per share for the quarter. The firm had revenue of $0.58 million during the quarter. Aeluma had a negative net margin of 205.31% and a negative return on equity of 18.14%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ALMU shares. Freedom Broker reduced their price objective on shares of Aeluma from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, September 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Insider Buying and Selling at Aeluma

In related news, CEO Jonathan Klamkin sold 100,000 shares of the business’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $10.53, for a total value of $1,053,000.00. Following the sale, the chief executive officer directly owned 1,126,995 shares in the company, valued at $11,867,257.35. The trade was a 8.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 dated Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total transaction of $173,000.00. Following the completion of the sale, the director owned 357,709 shares in the company, valued at $4,950,692.56. This represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 212,500 shares of company stock worth $2,561,000 in the last three months. 12.78% of the stock is owned by corporate insiders.

About Aeluma

Aeluma, Inc is a semiconductor company developing technologies designed to manufacture high-performance compound semiconductor devices on large-diameter silicon substrates. Its approach is intended to combine the performance characteristics of compound semiconductors with the scalability and manufacturing infrastructure associated with silicon wafers.

The company’s technology is applicable to products such as photodetectors, light-emitting devices, laser components and other optoelectronic devices.