Aeluma, Inc. (NASDAQ:ALMU) Receives $25.33 Average PT from Brokerages

Shares of Aeluma, Inc. (NASDAQ:ALMU) have been given an average rating of “Moderate Buy” by the four research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $25.00.

A number of analysts have recently weighed in on ALMU shares. Freedom Capital raised Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. Wall Street Zen lowered Aeluma from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research note on Monday, April 20th.

Insider Activity

In other news, CEO Jonathan Klamkin sold 20,000 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $24.96, for a total transaction of $499,200.00. Following the transaction, the chief executive officer owned 2,403 shares in the company, valued at $59,978.88. This represents a 89.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was 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 in the company, valued at approximately $7,650,352.91. This represents a 3.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Aeluma

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Aeluma by 98.1% in the 3rd quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock worth $7,067,000 after acquiring an additional 217,430 shares during the last quarter. Geode Capital Management LLC grew its stake in Aeluma by 22.5% during the 4th quarter. Geode Capital Management LLC now owns 285,732 shares of the company’s stock valued at $4,907,000 after purchasing an additional 52,565 shares during the last quarter. Apis Capital Advisors LLC increased its holdings 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 valued at $4,082,000 after purchasing an additional 11,545 shares during the period. State Street Corp increased its holdings in shares of Aeluma by 34.0% in the fourth quarter. State Street Corp now owns 213,405 shares of the company’s stock valued at $3,664,000 after purchasing an additional 54,184 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of Aeluma in the third quarter valued at about $3,398,000.

Aeluma Stock Down 3.6%

NASDAQ ALMU opened at $14.60 on Friday. The firm has a market cap of $267.25 million, a PE ratio of -41.71 and a beta of 3.88. The company has a 50 day moving average price of $22.24 and a 200 day moving average price of $18.75. Aeluma has a 52 week low of $10.24 and a 52 week high of $31.79.

Aeluma (NASDAQ:ALMU) 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. The company had revenue of $1.22 million during the quarter, compared to the consensus estimate of $1.37 million. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%.

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.