Aeluma, Inc. (NASDAQ:ALMU) Given Average Recommendation of “Moderate Buy” by Analysts

Aeluma, Inc. (NASDAQ:ALMU) has received a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $25.3333.

ALMU has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research note on Monday, April 20th. Williams Trading set a $25.00 price objective on shares of Aeluma in a research note on Tuesday, March 3rd. UBS Group reiterated a “buy” rating on shares of Aeluma in a research note on Tuesday, March 3rd. Wall Street Zen lowered shares of Aeluma from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Finally, Freedom Capital upgraded shares of Aeluma to a “strong-buy” rating in a research note on Tuesday, March 31st.

Aeluma Trading Down 3.5%

NASDAQ:ALMU opened at $23.34 on Tuesday. The stock has a market capitalization of $427.36 million, a PE ratio of -66.68 and a beta of 3.97. The firm’s 50 day moving average is $22.51 and its 200 day moving average is $18.43. Aeluma has a 12 month low of $10.24 and a 12 month high of $31.79.

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

Insider Buying and Selling

In related news, CEO Jonathan Klamkin sold 20,000 shares of Aeluma stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 2,403 shares in the company, valued at approximately $59,978.88. The trade was a 89.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 Aeluma stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $19.99, for a total transaction of $249,875.00. Following the completion of the transaction, the director owned 382,709 shares of the company’s stock, valued at $7,650,352.91. This represents a 3.16% 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 a total of 52,500 shares of company stock valued at $1,011,075 over the last quarter. 14.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Aeluma by 98.1% during the 3rd quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock valued at $7,067,000 after purchasing an additional 217,430 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Aeluma by 22.5% during the 4th quarter. Geode Capital Management LLC now owns 285,732 shares of the company’s stock valued at $4,907,000 after purchasing an additional 52,565 shares in the last quarter. Apis Capital Advisors LLC grew its position in shares of Aeluma by 4.8% during the 3rd quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company’s stock valued at $4,082,000 after purchasing an additional 11,545 shares in the last quarter. State Street Corp grew its position in shares of Aeluma by 34.0% during the 4th quarter. State Street Corp now owns 213,405 shares of the company’s stock valued at $3,664,000 after purchasing an additional 54,184 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new position in shares of Aeluma during the 3rd quarter valued at $3,398,000.

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.