Insider Selling: Aeluma (NASDAQ:ALMU) Director Sells $249,875.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total value of $249,875.00. Following the sale, the director owned 382,709 shares in the company, valued at $7,650,352.91. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Steven Denbaars also recently made the following trade(s):

• On Wednesday, February 25th, Steven Denbaars sold 12,500 shares of Aeluma stock. The stock was sold at an average price of $17.58, for a total value of $219,750.00.

Aeluma Stock Down 2.9%

ALMU stock opened at $22.64 on Friday. Aeluma, Inc. has a 52-week low of $10.20 and a 52-week high of $31.79. The stock’s 50 day moving average is $17.85 and its two-hundred day moving average is $16.89. The company has a market capitalization of $414.43 million, a PE ratio of -64.68 and a beta of 4.49.

Aeluma (NASDAQ:ALMU) last posted its quarterly earnings data on Wednesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.01. Aeluma had a negative return on equity of 12.03% and a negative net margin of 115.57%.The company had revenue of $1.22 million for the quarter, compared to the consensus estimate of $1.37 million.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its position in shares of Aeluma by 17.7% in the 1st quarter. Bank of America Corp DE now owns 15,929 shares of the company’s stock worth $209,000 after acquiring an additional 2,399 shares in the last quarter. Polar Asset Management Partners Inc. grew its position in shares of Aeluma by 0.8% in the 1st quarter. Polar Asset Management Partners Inc. now owns 91,030 shares of the company’s stock worth $1,192,000 after acquiring an additional 747 shares in the last quarter. GatePass Capital LLC acquired a new position in shares of Aeluma in the 1st quarter worth approximately $262,000. Wealthfront Advisers LLC acquired a new position in Aeluma during the 1st quarter valued at approximately $212,000. Finally, Fortitude Advisory Group L.L.C. acquired a new position in Aeluma during the 1st quarter valued at approximately $464,000.

Analyst Ratings Changes

Several research firms have issued reports on ALMU. UBS Group restated a “buy” rating on shares of Aeluma in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research report on Monday, April 20th. Benchmark reiterated a “buy” rating and issued a $25.00 target price on shares of Aeluma in a research report on Tuesday, March 3rd. Freedom Capital upgraded Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. Finally, Wall Street Zen lowered Aeluma from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

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.