Aeluma (NASDAQ:ALMU) Trading Up 17.2% – Still a Buy?

Shares of Aeluma, Inc. (NASDAQ:ALMU) were up 17.2% during mid-day trading on Monday . The stock traded as high as $27.60 and last traded at $28.61. Approximately 812,007 shares traded hands during trading, a decline of 20% from the average daily volume of 1,012,691 shares. The stock had previously closed at $24.41.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ALMU shares. Freedom Capital raised shares of Aeluma to a “strong-buy” rating in a report on Tuesday, March 31st. Benchmark reaffirmed a “buy” rating and issued a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a report on Monday, April 20th. Williams Trading set a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. Finally, UBS Group reaffirmed a “buy” rating on shares of Aeluma in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.33.

Aeluma Stock Up 16.2%

The company’s fifty day simple moving average is $16.94 and its 200-day simple moving average is $16.54.

Insider Buying and Selling at Aeluma

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, Director Steven Denbaars sold 12,500 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $17.58, for a total transaction of $219,750.00. Following the sale, the director directly owned 397,588 shares in the company, valued at $6,989,597.04. This trade represents a 3.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 102,500 shares of company stock worth $1,883,450 over the last ninety days. Corporate insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Aeluma

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Aeluma during the fourth quarter valued at $27,000. Quantbot Technologies LP purchased a new stake in shares of Aeluma during the third quarter valued at $29,000. BNP Paribas Financial Markets grew its holdings in shares of Aeluma by 79.2% during the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock valued at $31,000 after buying an additional 855 shares during the last quarter. Osaic Holdings Inc. purchased a new stake in shares of Aeluma during the second quarter valued at $32,000. Finally, State of Wyoming purchased a new stake in shares of Aeluma during the fourth quarter valued at $35,000.

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.