Aeluma (NASDAQ:ALMU) Stock Price Down 1.2% – Should You Sell?

Aeluma, Inc. (NASDAQ:ALMU)’s share price dropped 1.2% on Wednesday . The company traded as low as $21.81 and last traded at $22.30. Approximately 1,011,273 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 1,158,858 shares. The stock had previously closed at $22.56.

Wall Street Analysts Forecast Growth

ALMU has been the subject of a number of research reports. Wall Street Zen downgraded shares of Aeluma from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. UBS Group reiterated a “buy” rating on shares of Aeluma in a research note on Tuesday, March 3rd. Freedom Capital upgraded shares of Aeluma to a “strong-buy” rating in a research note on Tuesday, March 31st. Benchmark reiterated a “buy” rating and issued a $25.00 target price on shares of Aeluma in a research note on Tuesday, March 3rd. Finally, Williams Trading set a $25.00 target price on shares of Aeluma in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Aeluma Stock Down 1.2%

The firm has a market capitalization of $408.31 million, a P/E ratio of -63.71 and a beta of 3.94. The business has a 50-day moving average price of $20.39 and a 200-day moving average price of $17.75.

Aeluma (NASDAQ:ALMU) last released its quarterly earnings data 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. The business had revenue of $1.22 million for the quarter, compared to analysts’ expectations of $1.37 million. Aeluma had a negative return on equity of 12.03% and a negative net margin of 115.57%.

Insiders Place Their Bets

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of the company’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total value of $249,875.00. Following the sale, the director directly owned 382,709 shares in the company, valued at $7,650,352.91. This represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jonathan Klamkin sold 20,000 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $24.96, for a total value of $499,200.00. Following the completion of the sale, the chief executive officer owned 2,403 shares in the company, valued at $59,978.88. This trade represents a 89.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,500 shares of company stock worth $1,011,075 over the last quarter. Company insiders own 14.70% of the company’s stock.

Institutional Trading of Aeluma

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Aeluma by 98.1% in the third quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock valued at $7,067,000 after acquiring an additional 217,430 shares during the period. Geode Capital Management LLC grew its position in Aeluma by 22.5% in the fourth quarter. Geode Capital Management LLC now owns 285,732 shares of the company’s stock valued at $4,907,000 after acquiring an additional 52,565 shares during the period. Apis Capital Advisors LLC grew its position in Aeluma by 4.8% in the third quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company’s stock valued at $4,082,000 after acquiring an additional 11,545 shares during the period. State Street Corp grew its position in Aeluma by 34.0% in the fourth quarter. State Street Corp now owns 213,405 shares of the company’s stock valued at $3,664,000 after acquiring an additional 54,184 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new stake in Aeluma in the third quarter valued at $3,398,000.

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.