Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells $590,250.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 37,500 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $15.74, for a total transaction of $590,250.00. Following the sale, the insider directly owned 1,824,988 shares in the company, valued at approximately $28,725,311.12. The trade was a 2.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Aeluma Trading Down 7.2%

Shares of NASDAQ:ALMU opened at $14.76 on Thursday. The firm has a 50 day simple moving average of $17.40 and a 200-day simple moving average of $17.58. Aeluma, Inc. has a twelve month low of $5.69 and a twelve month high of $25.88. The company has a market capitalization of $263.61 million and a PE ratio of -54.67.

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

Analyst Ratings Changes

Several research analysts have commented on ALMU shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, January 21st. Benchmark reaffirmed a “buy” rating and issued a $25.00 target price on shares of Aeluma in a report on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Aeluma from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $25.50.

Institutional Investors Weigh In On Aeluma

Large investors have recently modified their holdings of the stock. Total Clarity Wealth Management Inc. acquired a new stake in shares of Aeluma during the fourth quarter worth $740,000. Westside Investment Management Inc. lifted its stake in shares of Aeluma by 51.8% in the 4th quarter. Westside Investment Management Inc. now owns 50,300 shares of the company’s stock worth $864,000 after acquiring an additional 17,165 shares during the period. FNY Investment Advisers LLC boosted its holdings in shares of Aeluma by 242.9% in the third quarter. FNY Investment Advisers LLC now owns 2,935 shares of the company’s stock valued at $47,000 after acquiring an additional 2,079 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new position in shares of Aeluma during the third quarter worth about $3,398,000. Finally, Sender Co & Partners Inc. acquired a new position in shares of Aeluma during the third quarter worth about $299,000.

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