Freedom Capital Upgrades Aeluma (NASDAQ:ALMU) to Strong-Buy

Aeluma (NASDAQ:ALMU) was upgraded by stock analysts at Freedom Capital to a “strong-buy” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other research analysts have also commented on the company. Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Aeluma in a research report on Tuesday, March 3rd. Williams Trading set a $25.00 price target on Aeluma in a report on Tuesday, March 3rd. UBS Group reissued a “buy” rating on shares of Aeluma in a report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Aeluma currently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Aeluma Price Performance

ALMU opened at $12.85 on Tuesday. The stock has a market capitalization of $231.34 million and a P/E ratio of -91.78. The company’s 50 day simple moving average is $15.35 and its 200-day simple moving average is $16.28. Aeluma has a one year low of $5.79 and a one year high of $25.88.

Insider Buying and Selling

In related news, Director Steven Denbaars sold 12,500 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $17.58, for a total value of $219,750.00. Following the completion of the sale, the director owned 397,588 shares in the company, valued at approximately $6,989,597.04. This represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jonathan Klamkin sold 50,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $18.05, for a total value of $902,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,429,398 shares in the company, valued at $25,800,633.90. The trade was a 3.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 297,000 shares of company stock valued at $5,174,095 over the last three months. Company insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ALMU. Caitong International Asset Management Co. Ltd bought a new stake in Aeluma in the fourth quarter valued at approximately $27,000. Quantbot Technologies LP acquired a new position in shares of Aeluma in the 3rd quarter valued at $29,000. BNP Paribas Financial Markets increased its position in shares of Aeluma by 79.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock valued at $31,000 after buying an additional 855 shares in the last quarter. Osaic Holdings Inc. bought a new stake in shares of Aeluma in the 2nd quarter valued at $32,000. Finally, State of Wyoming acquired a new stake in Aeluma during the 4th quarter worth $35,000.

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.