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

Aeluma, Inc. (NASDAQ:ALMU) Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $17.58, for a total transaction of $219,750.00. Following the completion of the transaction, the director directly owned 397,588 shares of the company’s stock, valued at $6,989,597.04. This trade represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Aeluma Stock Performance

Shares of NASDAQ:ALMU traded down $0.53 during trading on Friday, reaching $15.47. 292,656 shares of the stock traded hands, compared to its average volume of 428,590. The stock has a market cap of $279.23 million and a P/E ratio of -110.49. The stock has a 50-day moving average of $17.39 and a two-hundred day moving average of $17.00. Aeluma, Inc. has a 52-week low of $5.79 and a 52-week high of $25.88.

Wall Street Analyst Weigh In

A number of analysts have commented on ALMU shares. Wall Street Zen lowered Aeluma from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Benchmark reaffirmed a “buy” rating and set a $25.00 price objective on shares of Aeluma in a research report on Monday, December 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.50.

Institutional Investors Weigh In On Aeluma

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings in shares of Aeluma by 79.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock valued at $31,000 after buying an additional 855 shares during the period. &PARTNERS increased its position in Aeluma by 6.5% during the fourth quarter. &PARTNERS now owns 15,057 shares of the company’s stock valued at $259,000 after acquiring an additional 923 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Aeluma during the fourth quarter valued at $27,000. Quantbot Technologies LP bought a new position in Aeluma in the third quarter valued at about $29,000. Finally, Osaic Holdings Inc. purchased a new position in Aeluma in the second quarter worth about $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.