Aeluma (NASDAQ:ALMU) Sets New 1-Year High – Should You Buy?

Aeluma, Inc. (NASDAQ:ALMU) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $28.73 and last traded at $27.8880, with a volume of 1800187 shares trading hands. The stock had previously closed at $27.38.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALMU. Williams Trading set a $25.00 price target on Aeluma in a report on Tuesday, March 3rd. Freedom Capital upgraded Aeluma to a “strong-buy” rating in a report on Tuesday, March 31st. UBS Group restated a “buy” rating on shares of Aeluma in a report on Tuesday, March 3rd. Benchmark restated a “buy” rating and issued a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.33.

Aeluma Stock Performance

The firm’s 50-day simple moving average is $15.93 and its 200 day simple moving average is $16.16. The stock has a market capitalization of $511.56 million, a P/E ratio of -202.99 and a beta of 4.49.

Insider Activity

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of the business’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 sale, the director directly owned 397,588 shares of the company’s stock, valued at $6,989,597.04. The trade was a 3.05% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jonathan Klamkin sold 20,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $24.96, for a total transaction of $499,200.00. Following the sale, the chief executive officer directly owned 2,403 shares in the company, valued at $59,978.88. This trade represents a 89.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 102,500 shares of company stock worth $1,883,450 over the last three months. Insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Aeluma

Institutional investors and hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Aeluma in the 4th quarter valued at about $27,000. Quantbot Technologies LP bought a new stake in shares of Aeluma in the 3rd quarter valued at about $29,000. BNP Paribas Financial Markets raised 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 purchasing an additional 855 shares during the period. Osaic Holdings Inc. bought a new stake in shares of Aeluma in the 2nd quarter valued at about $32,000. Finally, State of Wyoming bought a new stake in shares of Aeluma in the 4th quarter valued at about $35,000.

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.