Short Interest in Aeluma, Inc. (NASDAQ:ALMU) Grows By 18.6%

Aeluma, Inc. (NASDAQ:ALMU) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 3,683,558 shares, a growth of 18.6% from the March 31st total of 3,106,499 shares. Approximately 24.0% of the company’s shares are short sold. Based on an average daily volume of 2,352,777 shares, the short-interest ratio is presently 1.6 days.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALMU. UBS Group reissued a “buy” rating on shares of Aeluma in a research report on Tuesday, March 3rd. Williams Trading set a $25.00 price objective 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. Benchmark reissued a “buy” rating and issued a $25.00 price objective on shares of Aeluma in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research report on Monday, April 20th. One equities research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Insider Activity at Aeluma

In related news, CEO Jonathan Klamkin sold 50,000 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $18.05, for a total transaction of $902,500.00. Following the transaction, the chief executive officer directly owned 1,429,398 shares in the company, valued at approximately $25,800,633.90. This represents a 3.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven Denbaars sold 12,500 shares of the company’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $17.58, for a total transaction of $219,750.00. Following the transaction, the director owned 397,588 shares in the company, valued at $6,989,597.04. The trade was a 3.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 154,500 shares of company stock worth $2,481,995. Insiders own 14.70% of the company’s stock.

Institutional Trading of Aeluma

A number of hedge funds and other institutional investors have recently made changes to their positions in ALMU. Caitong International Asset Management Co. Ltd purchased a new stake in Aeluma during the fourth quarter worth $27,000. Quantbot Technologies LP purchased a new stake in Aeluma during the third quarter worth $29,000. BNP Paribas Financial Markets boosted its holdings in Aeluma by 79.2% during the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock worth $31,000 after buying an additional 855 shares in the last quarter. Osaic Holdings Inc. purchased a new stake in Aeluma during the second quarter worth $32,000. Finally, State of Wyoming purchased a new stake in Aeluma during the fourth quarter worth $35,000.

Aeluma Price Performance

Aeluma stock traded up $1.68 during mid-day trading on Friday, reaching $24.97. 1,779,380 shares of the company traded hands, compared to its average volume of 944,253. Aeluma has a fifty-two week low of $10.20 and a fifty-two week high of $26.22. The company has a market capitalization of $449.41 million and a price-to-earnings ratio of -179.02. The firm’s fifty day moving average is $15.44 and its two-hundred day moving average is $16.08.

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.