Aeluma (NASDAQ:ALMU) Stock Price Down 7.9% – Here’s Why

Aeluma, Inc. (NASDAQ:ALMU)’s stock price traded down 7.9% during trading on Tuesday . The stock traded as low as $21.02 and last traded at $22.56. 1,294,957 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 1,160,142 shares. The stock had previously closed at $24.49.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Williams Trading set a $25.00 target price on shares of Aeluma in a research report on Tuesday, March 3rd. Freedom Capital raised shares of Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. Wall Street Zen cut shares of Aeluma from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. UBS Group reissued a “buy” rating on shares of Aeluma in a research report on Tuesday, March 3rd. Finally, Benchmark reissued a “buy” rating and set a $25.00 price target 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 issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Aeluma presently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Aeluma Stock Performance

The company has a market capitalization of $413.07 million, a PE ratio of -64.46 and a beta of 3.97. The business’s 50-day moving average is $20.18 and its 200-day moving average is $17.68.

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

Insider Activity

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $19.99, for a total value of $249,875.00. Following the completion of the transaction, the director directly owned 382,709 shares of the company’s stock, valued at approximately $7,650,352.91. The trade was a 3.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 dated Friday, May 1st. The stock was sold at an average price of $24.96, for a total transaction of $499,200.00. Following the completion of the transaction, the chief executive officer directly owned 2,403 shares of the company’s stock, valued at $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. Insiders sold 52,500 shares of company stock valued at $1,011,075 over the last ninety days. Corporate insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Aeluma by 98.1% in the third quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock worth $7,067,000 after buying an additional 217,430 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 buying an additional 52,565 shares during the last quarter. Apis Capital Advisors LLC grew its stake in shares of Aeluma by 4.8% in the third quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company’s stock worth $4,082,000 after acquiring an additional 11,545 shares during the period. State Street Corp grew its stake in shares of Aeluma by 34.0% in the fourth quarter. State Street Corp now owns 213,405 shares of the company’s stock worth $3,664,000 after acquiring an additional 54,184 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new stake in shares of Aeluma in the third quarter worth approximately $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.