Aeluma, Inc. (NASDAQ:ALMU) Sees Large Growth in Short Interest

Aeluma, Inc. (NASDAQ:ALMU) was the target of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 1,733,778 shares, an increase of 21.4% from the December 15th total of 1,428,657 shares. Currently, 11.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 414,245 shares, the short-interest ratio is presently 4.2 days. Based on an average daily trading volume, of 414,245 shares, the short-interest ratio is presently 4.2 days. Currently, 11.4% of the shares of the stock are short sold.

Insider Buying and Selling at Aeluma

In other news, major shareholder Mark N. Tompkins sold 30,000 shares of the stock in a transaction on Friday, December 26th. The stock was sold at an average price of $17.79, for a total transaction of $533,700.00. Following the sale, the insider directly owned 2,024,988 shares of the company’s stock, valued at approximately $36,024,536.52. This represents a 1.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 250,000 shares of company stock worth $3,981,900. Corporate insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Aeluma

Several hedge funds have recently added to or reduced their stakes in the business. JNBA Financial Advisors bought a new stake in Aeluma during the 2nd quarter worth approximately $52,000. Atria Wealth Solutions Inc. lifted its holdings in shares of Aeluma by 3.1% during the second quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company’s stock worth $275,000 after purchasing an additional 500 shares during the period. Geode Capital Management LLC bought a new stake in shares of Aeluma in the second quarter worth $3,850,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in Aeluma in the second quarter valued at $32,000. Finally, Cetera Investment Advisers bought a new position in Aeluma during the 2nd quarter worth $613,000.

Aeluma Stock Down 4.8%

NASDAQ ALMU opened at $20.55 on Wednesday. The company has a market cap of $367.02 million and a price-to-earnings ratio of -76.11. Aeluma has a twelve month low of $5.69 and a twelve month high of $25.88. The business’s fifty day moving average is $16.65 and its 200 day moving average is $17.62.

Aeluma (NASDAQ:ALMU) last posted its earnings results on Wednesday, November 12th. The company reported ($0.03) EPS for the quarter. Aeluma had a negative net margin of 67.97% and a negative return on equity of 18.15%. The firm had revenue of $1.39 million during the quarter.

Wall Street Analyst Weigh In

ALMU has been the subject of several recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $25.00 price objective on shares of Aeluma in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Aeluma from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.50.

About Aeluma

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.