Aeluma (NASDAQ:ALMU) Major Shareholder Sells $846,900.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 45,000 shares of the business’s stock in a transaction 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 sale, the insider directly owned 1,949,988 shares of the company’s stock, valued at approximately $36,698,774.16. The trade was a 2.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Aeluma Trading Down 5.4%

Aeluma stock traded down $1.00 during trading on Thursday, reaching $17.65. The company had a trading volume of 446,589 shares, compared to its average volume of 397,849. Aeluma, Inc. has a 52 week low of $5.69 and a 52 week high of $25.88. The firm’s 50-day simple moving average is $16.83 and its 200 day simple moving average is $17.63. The firm has a market capitalization of $315.23 million and a price-to-earnings ratio of -65.37.

Aeluma (NASDAQ:ALMU) last released its quarterly earnings results on Wednesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The company had revenue of $1.39 million for the quarter. Aeluma had a negative net margin of 67.97% and a negative return on equity of 18.15%.

Institutional Investors Weigh In On Aeluma

Institutional investors have recently added to or reduced their stakes in the stock. JNBA Financial Advisors purchased a new position in shares of Aeluma in the second quarter worth $52,000. Atria Wealth Solutions Inc. grew its stake in Aeluma by 3.1% during the second quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company’s stock valued at $275,000 after acquiring an additional 500 shares in the last quarter. Geode Capital Management LLC bought a new stake in Aeluma in the 2nd quarter valued at $3,850,000. Police & Firemen s Retirement System of New Jersey bought a new stake in Aeluma in the 2nd quarter valued at $32,000. Finally, Cetera Investment Advisers purchased a new stake in Aeluma in the 2nd quarter worth $613,000.

Wall Street Analyst Weigh In

A number of research firms have commented on ALMU. Benchmark restated a “buy” rating and set a $25.00 target price on shares of Aeluma in a research note on Monday, December 29th. Wall Street Zen cut shares of Aeluma from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $25.50.

About Aeluma

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.