Aeluma (NASDAQ:ALMU) Trading 1.5% Higher – Should You Buy?

Aeluma, Inc. (NASDAQ:ALMU) traded up 1.5% on Thursday . The stock traded as high as $27.81 and last traded at $27.21. 1,026,583 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 1,159,375 shares. The stock had previously closed at $26.80.

Analyst Ratings Changes

ALMU has been the topic of a number of research analyst reports. UBS Group reiterated a “buy” rating on shares of Aeluma in a research report on Tuesday, March 3rd. Wall Street Zen cut Aeluma from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Williams Trading set a $25.00 price target on Aeluma in a research note on Tuesday, March 3rd. Freedom Capital upgraded shares of Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. Finally, Benchmark reissued a “buy” rating and issued a $25.00 price objective 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 given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.33.

Aeluma Price Performance

The business’s 50-day moving average price is $19.95 and its two-hundred day moving average price is $17.56. The firm has a market cap of $413.62 million, a price-to-earnings ratio of -64.54 and a beta of 3.94.

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

Insider Buying and Selling at Aeluma

In other news, Director Steven Denbaars sold 12,500 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total transaction of $249,875.00. Following the sale, the director owned 382,709 shares in the company, valued at $7,650,352.91. This trade represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jonathan Klamkin sold 20,000 shares of Aeluma stock in a transaction on Friday, May 1st. The shares were sold at an average price of $24.96, for a total value of $499,200.00. Following the completion of the sale, the chief executive officer directly owned 2,403 shares of the company’s stock, valued at approximately $59,978.88. This represents a 89.27% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,500 shares of company stock worth $1,011,075 in the last 90 days. Insiders own 14.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Aeluma during the 4th quarter worth about $27,000. Quantbot Technologies LP purchased a new stake in Aeluma in the third quarter valued at approximately $29,000. BNP Paribas Financial Markets increased its position 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 purchasing an additional 855 shares during the last quarter. Osaic Holdings Inc. purchased a new position in Aeluma during the second quarter worth approximately $32,000. Finally, State of Wyoming purchased a new position in Aeluma during the fourth quarter worth approximately $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.