Aeluma, Inc. (NASDAQ:ALMU – Get Free Report)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $30.95 and last traded at $28.5210, with a volume of 628132 shares. The stock had previously closed at $28.18.
Analyst Ratings Changes
A number of brokerages have commented on ALMU. Benchmark reaffirmed a “buy” rating and set a $25.00 target price on shares of Aeluma in a report on Tuesday, March 3rd. UBS Group reiterated a “buy” rating on shares of Aeluma in a research report on Tuesday, March 3rd. Freedom Capital raised Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a report on Monday, April 20th. Finally, Williams Trading set a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. One 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. Based on data from MarketBeat, Aeluma currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.33.
Read Our Latest Report on Aeluma
Aeluma Trading Down 6.9%
Insider Activity at Aeluma
In other news, Director Steven Denbaars sold 12,500 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $17.58, for a total value of $219,750.00. Following the transaction, the director owned 397,588 shares of the company’s stock, valued at approximately $6,989,597.04. The trade was a 3.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Klamkin sold 20,000 shares of Aeluma stock in a transaction on Friday, May 1st. The shares were sold at an average price of $24.96, for a total transaction of $499,200.00. Following the completion of the sale, the chief executive officer owned 2,403 shares in the company, valued at approximately $59,978.88. This represents a 89.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 102,500 shares of company stock worth $1,883,450. Company insiders own 14.70% of the company’s stock.
Institutional Trading of Aeluma
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Aeluma by 98.1% during the third quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock worth $7,067,000 after acquiring an additional 217,430 shares during the last quarter. Geode Capital Management LLC increased its stake in Aeluma by 22.5% in the fourth quarter. Geode Capital Management LLC now owns 285,732 shares of the company’s stock worth $4,907,000 after purchasing an additional 52,565 shares during the period. Apis Capital Advisors LLC boosted its stake in shares of Aeluma by 4.8% during the third quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company’s stock valued at $4,082,000 after purchasing an additional 11,545 shares during the period. State Street Corp boosted its stake in shares of Aeluma by 34.0% during the fourth quarter. State Street Corp now owns 213,405 shares of the company’s stock valued at $3,664,000 after purchasing an additional 54,184 shares during the period. Finally, Polar Asset Management Partners Inc. purchased a new stake in Aeluma in the 3rd quarter valued at about $3,398,000.
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. Aeluma, Inc was formerly known as Parc Investments, Inc and changed its name to Aeluma, Inc June 2021.
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