Aeluma (NASDAQ:ALMU) Major Shareholder Sells $620,700.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 30,000 shares of the stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $20.69, for a total transaction of $620,700.00. Following the completion of the transaction, the insider owned 1,994,988 shares in the company, valued at $41,276,301.72. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Aeluma Price Performance

Shares of NASDAQ:ALMU traded down $1.00 during trading on Thursday, hitting $17.65. 446,589 shares of the company were exchanged, compared to its average volume of 397,849. The firm’s 50 day moving average price is $16.83 and its 200-day moving average price is $17.63. Aeluma, Inc. has a 12-month low of $5.69 and a 12-month high of $25.88. The stock has a market capitalization of $315.23 million and a P/E ratio of -65.37.

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

Institutional Investors Weigh In On Aeluma

Several hedge funds have recently made changes to their positions in ALMU. Quantbot Technologies LP purchased a new position in shares of Aeluma during the third quarter worth about $29,000. BNP Paribas Financial Markets raised its stake in Aeluma by 79.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock valued at $31,000 after acquiring an additional 855 shares during the last quarter. Police & Firemen s Retirement System of New Jersey acquired a new stake in Aeluma during the 2nd quarter worth approximately $32,000. Osaic Holdings Inc. acquired a new stake in Aeluma during the 2nd quarter worth approximately $32,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in shares of Aeluma in the 3rd quarter valued at approximately $39,000.

Analysts Set New Price Targets

A number of analysts have recently commented on ALMU shares. Wall Street Zen cut Aeluma from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Benchmark restated a “buy” rating and set a $25.00 price target on shares of Aeluma in a research note on Monday, December 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Aeluma currently has an average rating of “Hold” and a consensus price target of $25.50.

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.