Aeluma (NASDAQ:ALMU – Get Free Report) had its price target decreased by stock analysts at Freedom Broker from $30.00 to $25.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Freedom Broker’s price target would suggest a potential upside of 116.09% from the company’s current price.
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.00.
Read Our Latest Report on Aeluma
Aeluma Stock Performance
Aeluma (NASDAQ:ALMU – Get Free Report) last announced its quarterly earnings data on Wednesday, September 16th. The company reported ($0.15) earnings per share (EPS) for the quarter. The company had revenue of $0.58 million for the quarter. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%.
Insiders Place Their Bets
In other Aeluma news, Director Steven Denbaars sold 12,500 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 357,709 shares of the company’s stock, valued at $4,950,692.56. This trade represents a 3.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 14.70% of the stock is owned by insiders.
Hedge Funds Weigh In On Aeluma
Several institutional investors have recently bought and sold shares of ALMU. BlackRock Inc. bought a new position in shares of Aeluma during the 2nd quarter valued at about $21,489,000. AWM Investment Company Inc. bought a new stake in shares of Aeluma in the second quarter worth about $2,901,000. Bank of New York Mellon Corp purchased a new stake in shares of Aeluma in the second quarter worth about $2,047,000. Polar Asset Management Partners Inc. lifted its position in shares of Aeluma by 0.8% in the first quarter. Polar Asset Management Partners Inc. now owns 91,030 shares of the company’s stock worth $1,192,000 after buying an additional 747 shares in the last quarter. Finally, Wedbush Securities Inc. bought a new position in Aeluma during the second quarter valued at approximately $1,135,000.
About Aeluma
Aeluma, Inc is a semiconductor company that develops and manufactures high-performance components for communications, sensing, computing and other advanced technology applications. The company’s technology is designed to support the production of semiconductor devices on large-area and nontraditional substrates, with the goal of improving performance, scalability and integration.
Aeluma’s products and development efforts include photonic and optoelectronic components such as photodetectors and related devices used in optical communications, data centers, 3D sensing, artificial intelligence, aerospace and defense, automotive systems, and consumer electronics.
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