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

Aeluma, Inc. (NASDAQ:ALMU) has been assigned a consensus recommendation of “Moderate Buy” from the four analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $25.00.

A number of equities research analysts have recently issued reports on ALMU shares. Freedom Capital upgraded shares of Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research note on Monday, April 20th. Finally, Wall Street Zen cut Aeluma from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th.

Insider Transactions at Aeluma

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction dated Tuesday, May 19th. The stock was 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 of the company’s stock, valued at $7,650,352.91. The trade was a 3.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through 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 stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $24.96, for a total transaction of $499,200.00. Following the completion of the sale, the chief executive officer directly owned 2,403 shares of the company’s stock, 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. Company insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Aeluma

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALMU. Vanguard Group Inc. grew its holdings 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 acquiring an additional 217,430 shares in the last quarter. Geode Capital Management LLC boosted its position in Aeluma by 22.5% during the fourth 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 during the last quarter. Apis Capital Advisors LLC grew its stake 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 purchasing an additional 11,545 shares in the last quarter. State Street Corp increased its position in Aeluma by 34.0% in the 4th quarter. State Street Corp now owns 213,405 shares of the company’s stock worth $3,664,000 after purchasing an additional 54,184 shares during the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new position in Aeluma in the 3rd quarter worth about $3,398,000.

Aeluma Stock Down 7.7%

Shares of NASDAQ ALMU opened at $15.14 on Friday. Aeluma has a 12 month low of $10.24 and a 12 month high of $31.79. The company has a market cap of $277.21 million, a price-to-earnings ratio of -43.26 and a beta of 3.88. The business has a fifty day simple moving average of $22.43 and a 200-day simple moving average of $18.78.

Aeluma (NASDAQ:ALMU) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm 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%.

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.