Aeluma (NASDAQ:ALMU) Trading 1.4% Higher – Should You Buy?

Aeluma, Inc. (NASDAQ:ALMU)’s stock price shot up 1.4% on Friday . The stock traded as high as $26.03 and last traded at $25.20. 800,762 shares were traded during trading, a decline of 31% from the average session volume of 1,153,290 shares. The stock had previously closed at $24.84.

Analysts Set New Price Targets

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

Aeluma Stock Performance

The company has a market capitalization of $461.41 million, a P/E ratio of -72.00 and a beta of 3.94. The business’s fifty day simple moving average is $20.81 and its 200-day simple moving average is $17.91.

Aeluma (NASDAQ:ALMU) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $1.22 million for the quarter, compared to the consensus estimate of $1.37 million. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%.

Insiders Place Their Bets

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $19.99, for a total value of $249,875.00. Following the sale, the director directly owned 382,709 shares in the company, valued at approximately $7,650,352.91. The trade was a 3.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jonathan Klamkin sold 20,000 shares of Aeluma stock in a transaction on Friday, May 1st. The shares were sold at an average price of $24.96, for a total transaction of $499,200.00. Following the completion of the sale, the chief executive officer owned 2,403 shares in the company, valued at approximately $59,978.88. This represents a 89.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 52,500 shares of company stock worth $1,011,075. 14.70% of the stock is currently owned by insiders.

Institutional Trading of Aeluma

A number of large investors have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in shares of Aeluma by 17.7% in the 1st quarter. Bank of America Corp DE now owns 15,929 shares of the company’s stock worth $209,000 after buying an additional 2,399 shares during the last quarter. 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 during the last quarter. GatePass Capital LLC bought a new position in Aeluma during the 1st quarter valued at about $262,000. Wealthfront Advisers LLC bought a new position in Aeluma during the 1st quarter valued at about $212,000. Finally, Fortitude Advisory Group L.L.C. bought a new position in Aeluma during the 1st quarter valued at about $464,000.

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.