Aeluma (NASDAQ:ALMU) Announces Earnings Results, Beats Estimates By $0.01 EPS

Aeluma (NASDAQ:ALMU) announced its quarterly earnings results on Thursday. The company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.01, Zacks reports. Aeluma had a negative return on equity of 18.14% and a negative net margin of 205.31%.

Aeluma Stock Up 5.1%

Aeluma stock traded up $0.37 during trading hours on Thursday, hitting $7.58. The stock had a trading volume of 798,004 shares, compared to its average volume of 888,721. The stock has a market cap of $146.41 million, a price-to-earnings ratio of -14.58 and a beta of 4.52. Aeluma has a one year low of $5.87 and a one year high of $31.79. The business’s 50 day simple moving average is $10.54 and its 200-day simple moving average is $16.12.

Insider Activity

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $13.84, for a total transaction of $173,000.00. Following the transaction, the director directly owned 357,709 shares of the company’s stock, valued at $4,950,692.56. The trade was a 3.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Klamkin sold 100,000 shares of Aeluma stock in a transaction on Monday, October 12th. The stock was sold at an average price of $10.53, for a total value of $1,053,000.00. Following the sale, the chief executive officer owned 1,126,995 shares in the company, valued at $11,867,257.35. The trade was a 8.15% 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. In the last 90 days, insiders have sold 212,500 shares of company stock worth $2,561,000. 12.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ALMU has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a report on Thursday, October 15th. Northland Securities started coverage on Aeluma in a research report on Monday, November 2nd. They set an “outperform” rating and a $16.00 price objective on the stock. Freedom Broker decreased their price target on shares of Aeluma from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Thursday, September 17th. Finally, Zacks Research initiated coverage on shares of Aeluma in a research report on Tuesday, November 3rd. They set a “hold” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aeluma has an average rating of “Moderate Buy” and a consensus target price of $22.75.

About Aeluma

Aeluma, Inc. develops semiconductor materials and optoelectronic devices using technology designed to integrate compound semiconductors with silicon wafers. Its approach aims to combine the performance of compound semiconductors with the scale and manufacturing advantages of silicon-based processes. The company’s technology is intended for applications in areas such as optical communications, sensing, and other photonics markets. Potential device applications include lasers and photodetectors, which can be used to generate or detect light in electronic systems.