Benchmark Reaffirms Buy Rating for Aeluma (NASDAQ:ALMU)

Aeluma (NASDAQ:ALMU)‘s stock had its “buy” rating restated by research analysts at Benchmark in a report issued on Tuesday,Benzinga reports. They currently have a $25.00 price target on the stock. Benchmark’s price objective suggests a potential upside of 29.94% from the stock’s previous close.

Several other research analysts also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a report on Wednesday, January 21st. Wall Street Zen lowered Aeluma from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $25.50.

Aeluma Price Performance

ALMU stock opened at $19.24 on Tuesday. The business has a fifty day moving average price of $17.50 and a 200 day moving average price of $16.92. Aeluma has a fifty-two week low of $5.79 and a fifty-two week high of $25.88. The stock has a market capitalization of $347.26 million and a price-to-earnings ratio of -137.42.

Insider Activity

In other Aeluma news, major shareholder Mark N. Tompkins sold 34,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $14.71, for a total transaction of $507,495.00. Following the sale, the insider directly owned 1,790,488 shares in the company, valued at approximately $26,338,078.48. This trade represents a 1.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $219,750.00. Following the completion of the sale, the director directly owned 397,588 shares in the company, valued at $6,989,597.04. This represents a 3.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 497,000 shares of company stock valued at $8,253,495 over the last 90 days. Corporate insiders own 14.70% of the company’s stock.

Institutional Trading of Aeluma

A number of institutional investors have recently modified their holdings of ALMU. BNP Paribas Financial Markets raised its holdings in shares of Aeluma by 79.2% in 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. &PARTNERS lifted its position in shares of Aeluma by 6.5% in the fourth quarter. &PARTNERS now owns 15,057 shares of the company’s stock valued at $259,000 after buying an additional 923 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Aeluma during the 4th quarter worth approximately $27,000. Quantbot Technologies LP acquired a new position in shares of Aeluma during the 3rd quarter worth approximately $29,000. Finally, Osaic Holdings Inc. bought a new stake in Aeluma in the 2nd quarter valued at $32,000.

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.