Aeluma, Inc. (NASDAQ:ALMU – Get Free Report) was down 7.9% on Tuesday . The company traded as low as $21.02 and last traded at $22.56. Approximately 1,294,957 shares traded hands during trading, an increase of 12% from the average daily volume of 1,160,142 shares. The stock had previously closed at $24.49.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on ALMU shares. Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a research report on Monday, April 20th. Williams Trading set a $25.00 price target on Aeluma in a research report on Tuesday, March 3rd. Freedom Capital upgraded Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. Benchmark restated a “buy” rating and set a $25.00 price target on shares of Aeluma in a research report on Tuesday, March 3rd. Finally, UBS Group restated a “buy” rating on shares of Aeluma in a research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.33.
Get Our Latest Analysis on ALMU
Aeluma Stock Up 11.4%
Aeluma (NASDAQ:ALMU – Get Free Report) last issued 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 during the quarter, compared to analysts’ expectations of $1.37 million.
Insider Buying and Selling
In related news, CEO Jonathan Klamkin sold 20,000 shares of the company’s 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 directly owned 2,403 shares in the company, valued at $59,978.88. This represents a 89.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $19.99, for a total transaction of $249,875.00. Following the sale, the director directly owned 382,709 shares of the company’s stock, valued at $7,650,352.91. The trade was a 3.16% decrease in their position. 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. In the last three months, insiders have sold 52,500 shares of company stock valued at $1,011,075. Insiders own 14.70% of the company’s stock.
Hedge Funds Weigh In On Aeluma
Hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Aeluma in the fourth quarter valued at about $27,000. Quantbot Technologies LP purchased a new position in Aeluma during the 3rd quarter valued at about $29,000. BNP Paribas Financial Markets increased its holdings in Aeluma by 79.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock valued at $31,000 after purchasing an additional 855 shares during the period. Osaic Holdings Inc. purchased a new position in Aeluma during the 2nd quarter valued at about $32,000. Finally, State of Wyoming purchased a new position in Aeluma during the 4th quarter valued at about $35,000.
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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