Aeluma, Inc. (NASDAQ:ALMU) Stock Has Consensus Price Target of $22.75

Aeluma, Inc. (NASDAQ:ALMU) has been assigned an average rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $22.75.

A number of research analysts have commented on ALMU shares. Freedom Broker reduced their target price on Aeluma from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, September 17th. Zacks Research initiated coverage on Aeluma in a report on Tuesday, November 3rd. They issued a “hold” rating for the company. Northland Securities began coverage on Aeluma in a report on Monday, November 2nd. They issued an “outperform” rating and a $16.00 price target for the company. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research report on Thursday, October 15th.

Insiders Place Their Bets

In other Aeluma news, CEO Jonathan Klamkin sold 100,000 shares of the stock in a transaction on Monday, October 12th. The shares were sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the sale, the chief executive officer directly owned 1,126,995 shares of the company’s stock, valued at approximately $11,867,257.35. This represents a 8.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total transaction of $173,000.00. Following the sale, the director directly owned 357,709 shares in the company, valued at $4,950,692.56. This trade represents a 3.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 212,500 shares of company stock valued at $2,561,000. 12.78% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Polar Asset Management Partners Inc. lifted its holdings in Aeluma by 0.8% in the first quarter. Polar Asset Management Partners Inc. now owns 91,030 shares of the company’s stock worth $1,192,000 after acquiring an additional 747 shares during the last quarter. Legal & General Group Plc acquired a new position in Aeluma during the 2nd quarter valued at approximately $26,000. JNBA Financial Advisors boosted its position in Aeluma by 107.2% during the 2nd quarter. JNBA Financial Advisors now owns 3,340 shares of the company’s stock valued at $74,000 after purchasing an additional 1,728 shares during the period. Fortitude Advisory Group L.L.C. grew its stake in 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 buying an additional 2,132 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in Aeluma by 17.7% during the 1st quarter. Bank of America Corp DE now owns 15,929 shares of the company’s stock worth $209,000 after buying an additional 2,399 shares during the last quarter.

Aeluma Stock Performance

Shares of Aeluma stock opened at $7.35 on Friday. The firm’s 50-day simple moving average is $10.65 and its 200-day simple moving average is $16.16. Aeluma has a 1 year low of $5.87 and a 1 year high of $31.79.

Aeluma (NASDAQ:ALMU) last posted its quarterly earnings results on Wednesday, September 16th. The company reported ($0.15) EPS for the quarter. The firm had revenue of $0.58 million during the quarter. Aeluma had a negative return on equity of 18.14% and a negative net margin of 205.31%. As a group, equities research analysts expect that Aeluma will post -0.57 earnings per share for the current year.

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.