Insider Selling: Aeluma (NASDAQ:ALMU) CEO Sells 50,000 Shares of Stock

Aeluma, Inc. (NASDAQ:ALMU) CEO Jonathan Klamkin sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Aeluma Price Performance

Shares of NASDAQ ALMU traded down $2.64 during trading hours on Thursday, hitting $15.72. 1,092,170 shares of the stock were exchanged, compared to its average volume of 518,883. Aeluma, Inc. has a one year low of $5.79 and a one year high of $25.88. The company’s 50 day moving average is $17.62 and its 200 day moving average is $16.93. The firm has a market capitalization of $283.75 million and a P/E ratio of -112.28.

Institutional Trading of Aeluma

Several hedge funds have recently modified their holdings of ALMU. Manchester Capital Management LLC acquired a new stake in shares of Aeluma in the second quarter valued at $409,000. Intesa Sanpaolo Wealth Management acquired a new position in Aeluma during the 4th quarter worth about $515,000. Nuveen LLC grew its holdings in Aeluma by 26.2% during the 4th quarter. Nuveen LLC now owns 15,696 shares of the company’s stock worth $270,000 after acquiring an additional 3,255 shares during the last quarter. State of Wyoming acquired a new stake in Aeluma in the 4th quarter valued at about $35,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Aeluma in the fourth quarter worth about $230,000.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALMU shares. Benchmark restated a “buy” rating and set a $25.00 price target on shares of Aeluma in a research note on Tuesday. Williams Trading set a $25.00 price objective on Aeluma in a report on Tuesday. UBS Group restated a “buy” rating on shares of Aeluma in a research note on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of Aeluma from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.33.

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. Aeluma, Inc was formerly known as Parc Investments, Inc and changed its name to Aeluma, Inc June 2021.