Aeluma (NASDAQ:ALMU) Posts Quarterly Earnings Results

Aeluma (NASDAQ:ALMU) issued its earnings results on Wednesday. The company reported ($0.03) EPS for the quarter, Zacks reports. Aeluma had a negative net margin of 64.79% and a negative return on equity of 40.79%.

Aeluma Price Performance

NASDAQ ALMU traded down $0.35 on Wednesday, hitting $14.05. 460,411 shares of the stock traded hands, compared to its average volume of 252,236. The stock’s fifty day simple moving average is $16.74. Aeluma has a 12 month low of $3.08 and a 12 month high of $25.88. The company has a market cap of $250.76 million and a price-to-earnings ratio of -58.54.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ALMU shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, October 8th. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Aeluma in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Aeluma presently has a consensus rating of “Hold” and an average target price of $25.50.

Insiders Place Their Bets

In related news, major shareholder Mark N. Tompkins sold 63,604 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $18.70, for a total value of $1,189,394.80. Following the sale, the insider directly owned 2,676,582 shares in the company, valued at approximately $50,052,083.40. The trade was a 2.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan Klamkin sold 150,000 shares of the company’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $18.85, for a total transaction of $2,827,500.00. Following the sale, the chief executive officer directly owned 1,479,398 shares in the company, valued at approximately $27,886,652.30. This trade represents a 9.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 710,425 shares of company stock worth $12,733,125 in the last ninety days.

Institutional Trading of Aeluma

Several hedge funds and other institutional investors have recently modified their holdings of ALMU. Geode Capital Management LLC purchased a new stake in shares of Aeluma during the 2nd quarter valued at approximately $3,850,000. Vanguard Group Inc. raised its holdings in Aeluma by 98.1% during the 3rd quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock valued at $7,067,000 after acquiring an additional 217,430 shares during the period. Cetera Investment Advisers purchased a new stake in shares of Aeluma during the second quarter worth $613,000. Rhumbline Advisers purchased a new stake in shares of Aeluma during the second quarter worth $228,000. Finally, New York State Common Retirement Fund bought a new position in shares of Aeluma in the second quarter worth $111,000.

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.