Wall Street Zen downgraded shares of Aeluma (NASDAQ:ALMU – Free Report) from a sell rating to a strong sell rating in a report issued on Saturday.
Several other research firms have also recently commented on ALMU. Freedom Capital upgraded shares of Aeluma to a “strong-buy” rating in a report on Tuesday, March 31st. Benchmark restated a “buy” rating and set a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. UBS Group restated a “buy” rating on shares of Aeluma in a report on Tuesday, March 3rd. Williams Trading set a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Aeluma has a consensus rating of “Moderate Buy” and an average target price of $25.33.
Check Out Our Latest Stock Report on Aeluma
Aeluma Stock Down 6.7%
Aeluma (NASDAQ:ALMU – Get Free Report) last posted its quarterly earnings results on Wednesday, May 13th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%. The business had revenue of $1.22 million for the quarter, compared to analysts’ expectations of $1.37 million.
Insider Activity
In other Aeluma news, Director Steven Denbaars sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $17.58, for a total transaction of $219,750.00. Following the transaction, the director directly owned 397,588 shares in the company, valued at $6,989,597.04. This trade represents a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan Klamkin sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $18.05, for a total value of $902,500.00. Following the transaction, the chief executive officer owned 1,429,398 shares in the company, valued at approximately $25,800,633.90. This trade represents a 3.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 102,500 shares of company stock worth $1,883,450. Corporate insiders own 14.70% of the company’s stock.
Hedge Funds Weigh In On Aeluma
Institutional investors have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. bought a new position in Aeluma during the third quarter valued at about $3,398,000. Total Clarity Wealth Management Inc. bought a new stake in Aeluma during the fourth quarter valued at about $740,000. Westside Investment Management Inc. boosted its holdings in Aeluma by 51.8% during the fourth quarter. Westside Investment Management Inc. now owns 50,300 shares of the company’s stock valued at $864,000 after acquiring an additional 17,165 shares during the period. FNY Investment Advisers LLC boosted its holdings in Aeluma by 242.9% during the third quarter. FNY Investment Advisers LLC now owns 2,935 shares of the company’s stock valued at $47,000 after acquiring an additional 2,079 shares during the period. Finally, GatePass Capital LLC bought a new stake in Aeluma during the first quarter valued at about $262,000.
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. Aeluma, Inc was formerly known as Parc Investments, Inc and changed its name to Aeluma, Inc June 2021.
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