Steven Denbaars Sells 12,500 Shares of Aeluma (NASDAQ:ALMU) Stock

Aeluma, Inc. (NASDAQ:ALMU) Director Steven Denbaars sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total transaction of $249,875.00. Following the completion of the sale, the director directly owned 382,709 shares of the company’s stock, valued at approximately $7,650,352.91. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Steven Denbaars also recently made the following trade(s):

• On Wednesday, February 25th, Steven Denbaars sold 12,500 shares of Aeluma stock. The shares were sold at an average price of $17.58, for a total transaction of $219,750.00.

Aeluma Price Performance

Shares of NASDAQ ALMU opened at $22.64 on Friday. Aeluma, Inc. has a 1 year low of $10.20 and a 1 year high of $31.79. The stock has a market cap of $414.54 million, a P/E ratio of -64.68 and a beta of 4.49. The firm has a 50-day moving average of $17.85 and a 200 day moving average of $16.89.

Aeluma (NASDAQ:ALMU) last issued 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. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%. The company had revenue of $1.22 million during the quarter, compared to analysts’ expectations of $1.37 million.

Institutional Trading of Aeluma

Institutional investors and hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in Aeluma during the 4th quarter valued at about $27,000. Quantbot Technologies LP bought a new stake in shares of Aeluma in the third quarter worth approximately $29,000. BNP Paribas Financial Markets grew its stake in shares of Aeluma by 79.2% in the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock worth $31,000 after acquiring an additional 855 shares during the period. Osaic Holdings Inc. bought a new stake in shares of Aeluma in the second quarter worth approximately $32,000. Finally, State of Wyoming bought a new stake in shares of Aeluma in the fourth quarter worth approximately $35,000.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALMU. Williams Trading set a $25.00 price target on shares of Aeluma in a research report on Tuesday, March 3rd. Freedom Capital raised shares of Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. Wall Street Zen lowered shares of Aeluma from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Benchmark restated a “buy” rating and set a $25.00 price objective on shares of Aeluma in a research note on Tuesday, March 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.33.

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.