Aeluma (NASDAQ:ALMU) Major Shareholder Sells $542,100.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 30,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $18.07, for a total value of $542,100.00. Following the completion of the sale, the insider directly owned 1,919,988 shares of the company’s stock, valued at approximately $34,694,183.16. This trade represents a 1.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Aeluma Stock Performance

Shares of ALMU stock traded down $1.00 on Thursday, reaching $17.65. 446,589 shares of the company’s stock traded hands, compared to its average volume of 397,849. The company has a market capitalization of $315.23 million and a P/E ratio of -65.37. Aeluma, Inc. has a 12-month low of $5.69 and a 12-month high of $25.88. The business’s 50 day moving average price is $16.83 and its two-hundred day moving average price is $17.63.

Aeluma (NASDAQ:ALMU) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.03) EPS for the quarter. Aeluma had a negative return on equity of 18.15% and a negative net margin of 67.97%.The business had revenue of $1.39 million for the quarter.

Hedge Funds Weigh In On Aeluma

Institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC lifted its stake in shares of Aeluma by 242.9% in the third quarter. FNY Investment Advisers LLC now owns 2,935 shares of the company’s stock worth $47,000 after buying an additional 2,079 shares during the last quarter. Polar Asset Management Partners Inc. acquired a new position in Aeluma in the 3rd quarter valued at $3,398,000. Sender Co & Partners Inc. bought a new position in Aeluma in the 3rd quarter worth $299,000. Millennium Management LLC acquired a new position in Aeluma during the 3rd quarter worth $3,392,000. Finally, Focus Partners Wealth bought a new stake in Aeluma during the third quarter valued at about $73,000.

Analyst Upgrades and Downgrades

ALMU has been the subject of several research reports. Wall Street Zen cut shares of Aeluma from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Benchmark reissued a “buy” rating and set a $25.00 target price on shares of Aeluma in a research note on Monday, December 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Aeluma presently has an average rating of “Hold” and a consensus price target of $25.50.

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. Aeluma, Inc was formerly known as Parc Investments, Inc and changed its name to Aeluma, Inc June 2021.