Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells $614,625.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 37,500 shares of the business’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $16.39, for a total value of $614,625.00. Following the completion of the sale, the insider owned 2,319,988 shares of the company’s stock, valued at $38,024,603.32. The trade was a 1.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Aeluma Stock Up 5.8%

NASDAQ:ALMU opened at $16.12 on Friday. The stock has a 50 day moving average price of $18.02. The company has a market cap of $287.74 million and a P/E ratio of -67.17. Aeluma, Inc. has a 1-year low of $2.59 and a 1-year high of $25.88.

Aeluma (NASDAQ:ALMU) last announced its quarterly earnings data on Thursday, November 9th. The company reported ($0.11) earnings per share for the quarter. Aeluma had a negative net margin of 64.79% and a negative return on equity of 40.79%.

Analyst Ratings Changes

Several analysts have weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, October 8th. Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Aeluma in a research report on Wednesday, September 24th. Finally, Craig Hallum assumed coverage on Aeluma in a research report on Monday, July 14th. They issued a “buy” rating and a $26.00 price objective for the company. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.50.

Hedge Funds Weigh In On Aeluma

Hedge funds have recently made changes to their positions in the business. JNBA Financial Advisors purchased a new position in shares of Aeluma during the second quarter valued at approximately $52,000. Rhumbline Advisers purchased a new position in shares of Aeluma during the second quarter valued at approximately $228,000. New York State Common Retirement Fund purchased a new position in shares of Aeluma during the second quarter valued at approximately $111,000. Bank of America Corp DE purchased a new position in shares of Aeluma during the second quarter valued at approximately $98,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Aeluma in the second quarter worth $86,000.

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.