Aeluma (NASDAQ:ALMU) Director Steven Denbaars Sells 12,500 Shares of Stock

Aeluma, Inc. (NASDAQ:ALMU) Director Steven Denbaars sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total value of $173,000.00. Following the completion of the sale, the director directly owned 357,709 shares of the company’s stock, valued at approximately $4,950,692.56. This represents a 3.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Aeluma Trading Down 5.6%

Shares of ALMU stock traded down $0.78 during trading hours on Friday, reaching $13.14. 424,520 shares of the company’s stock were exchanged, compared to its average volume of 960,015. Aeluma, Inc. has a 1 year low of $10.24 and a 1 year high of $31.79. The stock has a market cap of $240.59 million, a PE ratio of -37.54 and a beta of 4.18. The stock’s fifty day moving average price is $17.34 and its two-hundred day moving average price is $18.26.

Analysts Set New Price Targets

A number of research analysts have issued reports on ALMU shares. 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 Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Aeluma has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Institutional Investors Weigh In On Aeluma

Large investors have recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in Aeluma in the 2nd quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd acquired a new stake in Aeluma during the 4th quarter valued at approximately $27,000. Quantbot Technologies LP acquired a new stake in Aeluma during the 3rd quarter valued at approximately $29,000. BNP Paribas Financial Markets boosted 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 acquiring an additional 855 shares during the last quarter. Finally, Osaic Holdings Inc. purchased a new stake in shares of 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.