Jonathan Klamkin Sells 150,000 Shares of Aeluma, Inc. (NASDAQ:ALMU) Stock

Aeluma, Inc. (NASDAQ:ALMU) CEO Jonathan Klamkin sold 150,000 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $18.85, for a total transaction of $2,827,500.00. Following the completion of the sale, the chief executive officer owned 1,479,398 shares in the company, valued at approximately $27,886,652.30. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Aeluma Trading Up 4.3%

Shares of NASDAQ:ALMU opened at $18.87 on Friday. Aeluma, Inc. has a 12 month low of $2.50 and a 12 month high of $25.88. The firm has a market cap of $299.66 million and a P/E ratio of -69.89.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ALMU shares. Craig Hallum assumed coverage on shares of Aeluma in a report on Monday, July 14th. They issued a “buy” rating and a $26.00 target price on the stock. Benchmark assumed coverage on shares of Aeluma in a report on Wednesday, July 23rd. They set a “buy” rating and a $25.00 price objective on the stock.

Institutional Investors Weigh In On Aeluma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Aeluma during the second quarter worth $32,000. JNBA Financial Advisors bought a new position in Aeluma in the second quarter valued at $52,000. JPMorgan Chase & Co. bought a new position in Aeluma in the second quarter valued at $74,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Aeluma in the second quarter valued at $86,000. Finally, Bank of America Corp DE bought a new position in Aeluma in the second quarter valued at $98,000.

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.