Brokerages Set Aeluma, Inc. (NASDAQ:ALMU) Target Price at $25.33

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

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

Insider Activity at Aeluma

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $19.99, for a total value of $249,875.00. Following the transaction, the director owned 382,709 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jonathan Klamkin sold 50,000 shares of Aeluma stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.05, for a total transaction of $902,500.00. Following the completion of the transaction, the chief executive officer owned 1,429,398 shares in the company, valued at approximately $25,800,633.90. This trade represents a 3.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 102,500 shares of company stock worth $1,913,575. 14.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALMU. Geode Capital Management LLC acquired a new position in Aeluma in the second quarter worth approximately $3,850,000. Cetera Investment Advisers acquired a new position in Aeluma in the second quarter worth approximately $613,000. JPMorgan Chase & Co. acquired a new position in Aeluma in the second quarter worth approximately $74,000. Rhumbline Advisers acquired a new position in Aeluma in the second quarter worth approximately $228,000. Finally, New York State Common Retirement Fund acquired a new position in Aeluma in the second quarter worth approximately $111,000.

Aeluma Price Performance

NASDAQ ALMU opened at $23.09 on Friday. Aeluma has a 12 month low of $10.20 and a 12 month high of $31.79. The firm has a market capitalization of $422.78 million, a PE ratio of -65.97 and a beta of 4.49. The company’s 50 day simple moving average is $18.53 and its 200 day simple moving average is $17.12.

Aeluma (NASDAQ:ALMU) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%. The business had revenue of $1.22 million for the quarter, compared to analyst estimates of $1.37 million.

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.