Brokerages Set Aeluma, Inc. (NASDAQ:ALMU) Price Target at $25.00

Aeluma, Inc. (NASDAQ:ALMU) has earned a consensus recommendation of “Moderate Buy” from the five ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $25.00.

Several equities analysts recently weighed in on ALMU shares. Freedom Broker cut their price objective on shares of Aeluma from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, September 17th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research note on Friday, July 17th.

Insider Transactions at Aeluma

In other news, CEO Jonathan Klamkin sold 100,000 shares of the company’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $13.35, for a total transaction of $1,335,000.00. Following the completion of the sale, the chief executive officer owned 1,226,995 shares in the company, valued at approximately $16,380,383.25. This represents a 7.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 26th. The shares were 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 in the company, valued at $4,950,692.56. The trade was a 3.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 14.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Aeluma

A number of institutional investors have recently modified their holdings of the company. Polar Asset Management Partners Inc. boosted its stake in Aeluma by 0.8% during the 1st quarter. Polar Asset Management Partners Inc. now owns 91,030 shares of the company’s stock valued at $1,192,000 after purchasing an additional 747 shares during the period. Legal & General Group Plc acquired a new stake in Aeluma in the 2nd quarter valued at approximately $26,000. JNBA Financial Advisors increased its position in Aeluma by 107.2% in the 2nd quarter. JNBA Financial Advisors now owns 3,340 shares of the company’s stock worth $74,000 after buying an additional 1,728 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Aeluma in the 4th quarter worth approximately $32,000. Finally, MCF Advisors LLC increased its position in Aeluma by 12.0% in the 4th quarter. MCF Advisors LLC now owns 18,600 shares of the company’s stock worth $319,000 after buying an additional 2,000 shares during the period.

Aeluma Trading Down 5.2%

Shares of NASDAQ:ALMU opened at $13.18 on Thursday. Aeluma has a 1 year low of $10.24 and a 1 year high of $31.79. The business has a fifty day simple moving average of $14.83 and a 200 day simple moving average of $17.82. The firm has a market cap of $253.93 million, a price-to-earnings ratio of -25.35 and a beta of 4.07.

Aeluma (NASDAQ:ALMU) last issued its earnings results on Wednesday, September 16th. The company reported ($0.15) earnings per share for the quarter. The firm had revenue of $0.58 million during the quarter. Aeluma had a negative return on equity of 18.14% and a negative net margin of 205.31%.

Aeluma Company Profile

Aeluma, Inc is a semiconductor company that develops and manufactures high-performance components for communications, sensing, computing and other advanced technology applications. The company’s technology is designed to support the production of semiconductor devices on large-area and nontraditional substrates, with the goal of improving performance, scalability and integration.

Aeluma’s products and development efforts include photonic and optoelectronic components such as photodetectors and related devices used in optical communications, data centers, 3D sensing, artificial intelligence, aerospace and defense, automotive systems, and consumer electronics.