Aeluma (NASDAQ:ALMU) Coverage Initiated by Analysts at Northland Securities

Investment analysts at Northland Securities assumed coverage on shares of Aeluma (NASDAQ:ALMU) in a research report issued to clients and investors on Monday, Briefing.com reports. The brokerage set an “outperform” rating and a $16.00 price target on the stock. Northland Securities‘s price target would suggest a potential upside of 112.20% from the company’s previous close.

A number of other equities analysts also recently weighed in on ALMU. Freedom Broker lowered their price target on 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 report on Thursday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.75.

Aeluma Stock Performance

Shares of Aeluma stock opened at $7.54 on Monday. The firm has a market cap of $145.67 million, a PE ratio of -14.50 and a beta of 4.53. The business’s 50 day simple moving average is $11.58 and its 200 day simple moving average is $16.63. Aeluma has a 52-week low of $6.59 and a 52-week high of $31.79.

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

Insider Buying and Selling at Aeluma

In other news, Director Steven Denbaars sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $13.84, for a total transaction of $173,000.00. Following the completion of the sale, the director owned 357,709 shares in the company, valued at approximately $4,950,692.56. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jonathan Klamkin sold 100,000 shares of Aeluma 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 sale, the chief executive officer directly owned 1,126,995 shares of the company’s stock, valued at $11,867,257.35. The trade was a 8.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 212,500 shares of company stock worth $2,561,000. Corporate insiders own 12.78% of the company’s stock.

Institutional Investors Weigh In On Aeluma

A number of institutional investors have recently made changes to their positions in ALMU. Polar Asset Management Partners Inc. boosted its holdings in shares of Aeluma by 0.8% during the first quarter. Polar Asset Management Partners Inc. now owns 91,030 shares of the company’s stock worth $1,192,000 after acquiring an additional 747 shares during the period. Legal & General Group Plc acquired a new stake in Aeluma during the 2nd quarter worth approximately $26,000. JNBA Financial Advisors lifted its holdings in Aeluma by 107.2% during the 2nd quarter. JNBA Financial Advisors now owns 3,340 shares of the company’s stock worth $74,000 after purchasing an additional 1,728 shares during the last quarter. Fortitude Advisory Group L.L.C. boosted its stake in Aeluma by 6.0% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 37,567 shares of the company’s stock valued at $829,000 after purchasing an additional 2,132 shares during the period. Finally, Bank of America Corp DE boosted its stake in Aeluma by 17.7% in the 1st quarter. Bank of America Corp DE now owns 15,929 shares of the company’s stock valued at $209,000 after purchasing an additional 2,399 shares during the period.

Aeluma Company Profile

Aeluma, Inc is a semiconductor company developing technologies designed to manufacture high-performance compound semiconductor devices on large-diameter silicon substrates. Its approach is intended to combine the performance characteristics of compound semiconductors with the scalability and manufacturing infrastructure associated with silicon wafers.

The company’s technology is applicable to products such as photodetectors, light-emitting devices, laser components and other optoelectronic devices.