Aeluma (NASDAQ:ALMU) Trading Up 2.9% – Here’s What Happened

Shares of Aeluma, Inc. (NASDAQ:ALMU) traded up 2.9% on Monday . The company traded as high as $17.55 and last traded at $16.67. 707,948 shares traded hands during mid-day trading, an increase of 38% from the average session volume of 513,210 shares. The stock had previously closed at $16.20.

Wall Street Analysts Forecast Growth

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

Aeluma Trading Down 7.8%

The stock has a fifty day simple moving average of $20.09 and a 200-day simple moving average of $18.40. The stock has a market cap of $307.97 million, a price-to-earnings ratio of -48.06 and a beta of 4.18.

Aeluma (NASDAQ:ALMU) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. Aeluma had a negative return on equity of 12.03% and a negative net margin of 115.57%.The company had revenue of $1.22 million during the quarter, compared to analyst estimates of $1.37 million.

Insider Transactions at Aeluma

In other news, Director Steven Denbaars sold 12,500 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $19.99, for a total transaction of $249,875.00. Following the transaction, the director owned 382,709 shares in the company, valued at approximately $7,650,352.91. The trade was a 3.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 14.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aeluma

Institutional investors have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. raised its holdings in Aeluma by 0.8% in the 1st quarter. Polar Asset Management Partners Inc. now owns 91,030 shares of the company’s stock valued at $1,192,000 after acquiring an additional 747 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Aeluma by 79.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock worth $31,000 after purchasing an additional 855 shares in the last quarter. &PARTNERS grew its holdings in shares of Aeluma by 6.5% during the 4th quarter. &PARTNERS now owns 15,057 shares of the company’s stock worth $259,000 after purchasing an additional 923 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Aeluma during the fourth quarter valued at approximately $27,000. Finally, Quantbot Technologies LP bought a new stake in shares of Aeluma during the third quarter valued at approximately $29,000.

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.