Jonathan Klamkin Sells 20,000 Shares of Aeluma (NASDAQ:ALMU) Stock

Aeluma, Inc. (NASDAQ:ALMU) 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 completion of the sale, the chief executive officer owned 2,403 shares in the company, valued at approximately $59,978.88. This trade represents a 89.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Klamkin also recently made the following trade(s):

• On Wednesday, April 1st, Jonathan Klamkin sold 20,000 shares of Aeluma stock. The shares were sold at an average price of $13.10, for a total transaction of $262,000.00.
• On Wednesday, March 4th, Jonathan Klamkin sold 50,000 shares of Aeluma stock. The shares were sold at an average price of $18.05, for a total transaction of $902,500.00.

Aeluma Trading Up 3.8%

ALMU opened at $28.42 on Thursday. The stock has a 50-day moving average of $15.93 and a 200 day moving average of $16.16. Aeluma, Inc. has a 12 month low of $10.20 and a 12 month high of $28.73. The firm has a market cap of $511.56 million, a P/E ratio of -202.99 and a beta of 4.49.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC purchased a new stake in shares of Aeluma in the second quarter worth approximately $3,850,000. Vanguard Group Inc. boosted its holdings in Aeluma by 98.1% during the 3rd quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock valued at $7,067,000 after acquiring an additional 217,430 shares during the period. Polar Asset Management Partners Inc. purchased a new position in Aeluma during the 3rd quarter valued at $3,398,000. Millennium Management LLC bought a new position in Aeluma in the 3rd quarter valued at $3,392,000. Finally, State Street Corp grew its position in Aeluma by 34.0% in the 4th quarter. State Street Corp now owns 213,405 shares of the company’s stock valued at $3,664,000 after acquiring an additional 54,184 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALMU. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research report on Monday, April 20th. Freedom Capital upgraded Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. UBS Group reaffirmed a “buy” rating on shares of Aeluma in a research note on Tuesday, March 3rd. Williams Trading set a $25.00 price objective on shares of Aeluma in a research report on Tuesday, March 3rd. Finally, Benchmark reissued a “buy” rating and issued a $25.00 target price on shares of Aeluma in a research note on Tuesday, March 3rd. One 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.33.

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.