Aeluma (NASDAQ:ALMU) Given “Buy” Rating at Benchmark

Aeluma (NASDAQ:ALMU)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark in a report issued on Tuesday,Benzinga reports. They presently have a $25.00 price target on the stock. Benchmark’s price target indicates a potential upside of 29.94% from the stock’s current price.

Several other research analysts have also recently commented on ALMU. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a report on Wednesday, January 21st. Wall Street Zen downgraded Aeluma from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.50.

Aeluma Stock Up 24.4%

Shares of NASDAQ:ALMU opened at $19.24 on Tuesday. Aeluma has a 12-month low of $5.79 and a 12-month high of $25.88. The business has a 50 day moving average of $17.50 and a 200-day moving average of $16.92. The stock has a market cap of $347.26 million and a PE ratio of -137.42.

Insider Transactions at Aeluma

In other Aeluma news, major shareholder Mark N. Tompkins sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 21st. The shares were sold at an average price of $18.82, for a total transaction of $846,900.00. Following the completion of the transaction, the insider directly owned 1,949,988 shares in the company, valued at $36,698,774.16. The trade was a 2.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 497,000 shares of company stock valued at $8,253,495 over the last quarter. Company insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Aeluma

A number of institutional investors have recently modified their holdings of ALMU. Caitong International Asset Management Co. Ltd acquired a new stake in Aeluma in the fourth quarter valued at about $27,000. Quantbot Technologies LP acquired a new position in Aeluma during the third quarter worth about $29,000. BNP Paribas Financial Markets lifted its holdings in shares of Aeluma by 79.2% in the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock worth $31,000 after acquiring an additional 855 shares during the last quarter. Osaic Holdings Inc. bought a new position in shares of Aeluma in the second quarter worth about $32,000. Finally, Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Aeluma in the 2nd quarter valued at approximately $32,000.

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.