Aeluma, Inc. (NASDAQ:ALMU) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Aeluma, Inc. (NASDAQ:ALMU – Get Free Report) have earned an average recommendation of “Moderate Buy” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $25.3333.

Several research analysts have weighed in on ALMU shares. Freedom Capital upgraded Aeluma to a “strong-buy” rating in a research note on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research note on Monday, April 20th. UBS Group reiterated a “buy” rating on shares of Aeluma in a research note on Tuesday, March 3rd. Wall Street Zen downgraded Aeluma from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Finally, Williams Trading set a $25.00 price target on Aeluma in a research note on Tuesday, March 3rd.

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Insider Buying and Selling

In related news, Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total value of $249,875.00. Following the sale, the director directly owned 382,709 shares in the company, valued at $7,650,352.91. The trade was a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jonathan Klamkin sold 20,000 shares of Aeluma stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $24.96, for a total value 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 trade represents a 89.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 115,000 shares of company stock worth $2,133,325. Company insiders own 14.70% of the company’s stock.

Institutional Trading of Aeluma

A number of institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its stake in shares of Aeluma by 17.7% in the first quarter. Bank of America Corp DE now owns 15,929 shares of the company’s stock valued at $209,000 after buying an additional 2,399 shares in the last quarter. Polar Asset Management Partners Inc. boosted its stake 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 valued at $1,192,000 after buying an additional 747 shares in the last quarter. GatePass Capital LLC purchased a new stake in shares of Aeluma in the first quarter valued at approximately $262,000. Wealthfront Advisers LLC purchased a new stake in shares of Aeluma in the first quarter valued at approximately $212,000. Finally, Fortitude Advisory Group L.L.C. purchased a new stake in shares of Aeluma in the first quarter valued at approximately $464,000.

Aeluma Trading Up 11.3%

Shares of ALMU stock opened at $23.31 on Friday. The business’s 50 day moving average is $17.72 and its two-hundred day moving average is $16.85. Aeluma has a twelve month low of $10.20 and a twelve month high of $31.79. The company has a market capitalization of $426.81 million, a P/E ratio of -66.60 and a beta of 4.49.

Aeluma (NASDAQ:ALMU – Get Free Report) last announced its earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. Aeluma had a negative return on equity of 12.03% and a negative net margin of 115.57%.The company had revenue of $1.22 million for the quarter, compared to the consensus estimate of $1.37 million.

Aeluma Company Profile

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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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