Aeluma (NASDAQ:ALMU) Major Shareholder Sells $543,660.20 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 33,580 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $16.19, for a total value of $543,660.20. Following the sale, the insider owned 2,856,833 shares of the company’s stock, valued at approximately $46,252,126.27. This trade represents a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Aeluma Trading Up 6.9%

Shares of Aeluma stock opened at $18.01 on Friday. The business’s 50 day moving average is $19.07. The firm has a market cap of $321.48 million and a PE ratio of -75.04. Aeluma, Inc. has a 1-year low of $2.52 and a 1-year high of $25.88.

Institutional Trading of Aeluma

A number of hedge funds have recently bought and sold shares of ALMU. Geode Capital Management LLC acquired a new position in Aeluma in the 2nd quarter valued at $3,850,000. Cetera Investment Advisers purchased a new stake in shares of Aeluma in the second quarter valued at $613,000. Manchester Capital Management LLC acquired a new position in Aeluma in the second quarter valued at $409,000. MASO CAPITAL PARTNERS Ltd acquired a new position in Aeluma in the second quarter valued at $401,000. Finally, Atria Wealth Solutions Inc. lifted its position in Aeluma by 3.1% during the second quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company’s stock worth $275,000 after buying an additional 500 shares during the period.

Wall Street Analysts Forecast Growth

ALMU has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a report on Saturday, September 27th. Benchmark reiterated a “buy” rating and issued a $25.00 price target on shares of Aeluma in a research note on Wednesday, September 24th. Finally, Craig Hallum began coverage on shares of Aeluma in a research report on Monday, July 14th. They set a “buy” rating and a $26.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.50.

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.