Aeluma, Inc. (NASDAQ:ALMU) Stock Has Average Price Target of $25.00

Shares of Aeluma, Inc. (NASDAQ:ALMU) have been given a consensus rating of “Moderate Buy” by the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $25.00.

Several research analysts recently weighed in on the company. Freedom Broker cut their target price on Aeluma from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, September 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research report on Friday, July 17th.

Insider Transactions at Aeluma

In other news, CEO Jonathan Klamkin sold 100,000 shares of Aeluma stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $10.53, for a total value of $1,053,000.00. Following the transaction, the chief executive officer directly owned 1,126,995 shares of the company’s stock, valued at $11,867,257.35. The trade was a 8.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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 value of $173,000.00. Following the sale, the director owned 357,709 shares of the company’s stock, valued at $4,950,692.56. The trade was a 3.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 212,500 shares of company stock worth $2,561,000. Company insiders own 12.78% of the company’s stock.

Hedge Funds Weigh In On Aeluma

A number of institutional investors and hedge funds have recently bought and sold shares of ALMU. BlackRock Inc. acquired a new position in shares of Aeluma during the second quarter worth $21,489,000. AWM Investment Company Inc. purchased a new position in shares of Aeluma in the second quarter valued at $2,901,000. Bank of New York Mellon Corp acquired a new stake in Aeluma during the 2nd quarter valued at $2,047,000. Polar Asset Management Partners Inc. grew its holdings in Aeluma by 0.8% during the 1st quarter. Polar Asset Management Partners Inc. now owns 91,030 shares of the company’s stock valued at $1,192,000 after purchasing an additional 747 shares in the last quarter. Finally, Wedbush Securities Inc. acquired a new stake in Aeluma during the 2nd quarter valued at $1,135,000.

Aeluma Trading Down 7.0%

Shares of ALMU opened at $9.12 on Monday. The company’s fifty day moving average is $13.78 and its two-hundred day moving average is $17.59. Aeluma has a fifty-two week low of $8.92 and a fifty-two week high of $31.79.

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

About Aeluma

Aeluma, Inc is a semiconductor company that develops and commercializes high-performance optoelectronic devices. Its technology is designed to integrate compound semiconductor materials with large-diameter silicon wafers, supporting the production of advanced components through manufacturing processes intended to improve scalability and reduce costs.

The company’s products and applications are focused on communications, sensing and computing markets. Potential use cases include optical communications, three-dimensional sensing, light detection and ranging (LiDAR), aerospace and defense systems, and other applications that require high-performance photonic or semiconductor components.

Aeluma was founded in 2019 and is based in Goleta, California.