Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells 25,000 Shares of Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $15.91, for a total transaction of $397,750.00. Following the transaction, the insider directly owned 1,862,488 shares of the company’s stock, valued at $29,632,184.08. This trade represents a 1.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Aeluma Price Performance

ALMU stock traded up $0.06 during trading on Monday, reaching $15.85. 350,823 shares of the stock traded hands, compared to its average volume of 417,083. The firm has a market capitalization of $283.08 million and a PE ratio of -58.70. The business’s 50 day moving average price is $17.34 and its 200-day moving average price is $17.62. Aeluma, Inc. has a 52-week low of $5.69 and a 52-week high of $25.88.

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

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALMU. Atria Wealth Solutions Inc. boosted its position in shares of Aeluma by 3.1% in the second quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company’s stock worth $275,000 after buying an additional 500 shares during the period. BNP Paribas Financial Markets grew its position in Aeluma by 79.2% during the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock valued at $31,000 after purchasing an additional 855 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Aeluma during the 3rd quarter valued at $29,000. Osaic Holdings Inc. acquired a new position in shares of Aeluma in the second quarter worth $32,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Aeluma in the 2nd quarter valued at approximately $32,000.

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.