Wedbush Securities Inc. Purchases New Position in Aeluma, Inc. $ALMU

Wedbush Securities Inc. purchased a new position in Aeluma, Inc. (NASDAQ:ALMU) in the second quarter, Holdings Channel reports. The fund purchased 51,425 shares of the company’s stock, valued at approximately $1,135,000.

A number of other hedge funds also recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Aeluma in the second quarter valued at approximately $21,489,000. Vanguard Group Inc. raised its stake in shares of Aeluma by 98.1% during the 3rd quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock worth $7,067,000 after buying an additional 217,430 shares during the period. Geode Capital Management LLC raised its stake in shares of Aeluma by 22.5% during the 4th quarter. Geode Capital Management LLC now owns 285,732 shares of the company’s stock worth $4,907,000 after buying an additional 52,565 shares during the period. State Street Corp lifted its position in shares of Aeluma by 34.0% during the 4th quarter. State Street Corp now owns 213,405 shares of the company’s stock valued at $3,664,000 after buying an additional 54,184 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Aeluma during the 3rd quarter valued at approximately $3,398,000.

Insider Buying and Selling

In related news, Director Steven Denbaars sold 12,500 shares of the stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total value of $173,000.00. Following the completion of the transaction, the director directly owned 357,709 shares of the company’s stock, valued at approximately $4,950,692.56. This represents a 3.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 14.70% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a report on Friday, July 17th. Wall Street Zen downgraded shares of Aeluma from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Aeluma Trading Down 0.3%

NASDAQ:ALMU opened at $13.10 on Tuesday. The stock has a 50 day moving average of $16.91 and a two-hundred day moving average of $18.22. Aeluma, Inc. has a 12 month low of $10.24 and a 12 month high of $31.79. The firm has a market cap of $239.86 million, a P/E ratio of -37.43 and a beta of 4.19.

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.