Aeluma (NASDAQ:ALMU) CEO Jonathan Klamkin Sells 100,000 Shares of Stock

Aeluma, Inc. (NASDAQ:ALMU) CEO Jonathan Klamkin sold 100,000 shares of the business’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the transaction, the chief executive officer owned 1,126,995 shares in the company, valued at approximately $11,867,257.35. This trade represents a 8.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Klamkin also recently made the following trade(s):

• On Monday, September 21st, Jonathan Klamkin sold 100,000 shares of Aeluma stock. The stock was sold at an average price of $13.35, for a total transaction of $1,335,000.00.

Aeluma Stock Down 7.0%

Shares of ALMU stock opened at $9.12 on Thursday. Aeluma, Inc. has a 52-week low of $8.92 and a 52-week high of $31.79. The company has a 50-day simple moving average of $13.78 and a two-hundred day simple moving average of $17.59.

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

Hedge Funds Weigh In On Aeluma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. AWM Investment Company Inc. bought a new stake in Aeluma in the second quarter worth about $2,901,000. BlackRock Inc. purchased a new position in Aeluma in the second quarter valued at about $21,489,000. Bank of New York Mellon Corp purchased a new position in Aeluma in the second quarter valued at about $2,047,000. Wedbush Securities Inc. purchased a new position in Aeluma in the second quarter valued at about $1,135,000. Finally, Fortitude Advisory Group L.L.C. bought a new position in shares of Aeluma during the 1st quarter valued at approximately $464,000.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ALMU shares. Freedom Broker reduced their target price on Aeluma from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, September 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.00.

Aeluma Company Profile

Aeluma, Inc is a semiconductor company that develops and commercializes high-performance optoelectronic devices. Its technology is designed to integrate compound semiconductor materials with large-diameter silicon wafers, supporting the production of advanced components through manufacturing processes intended to improve scalability and reduce costs.

The company’s products and applications are focused on communications, sensing and computing markets. Potential use cases include optical communications, three-dimensional sensing, light detection and ranging (LiDAR), aerospace and defense systems, and other applications that require high-performance photonic or semiconductor components.

Aeluma was founded in 2019 and is based in Goleta, California.