Aeluma (NASDAQ:ALMU) Stock Price Up 1.4% – Here’s What Happened

Aeluma, Inc. (NASDAQ:ALMU)’s stock price traded up 1.4% on Friday . The company traded as high as $26.03 and last traded at $25.20. 800,762 shares were traded during mid-day trading, a decline of 31% from the average session volume of 1,153,290 shares. The stock had previously closed at $24.84.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALMU shares. Wall Street Zen cut shares of Aeluma from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Freedom Capital upgraded shares of Aeluma to a “strong-buy” rating in a research note on Tuesday, March 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a report on Monday, April 20th. Williams Trading set a $25.00 price objective on shares of Aeluma in a report on Tuesday, March 3rd. Finally, Benchmark reiterated a “buy” rating and set a $25.00 target price on shares of Aeluma in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Aeluma has a consensus rating of “Moderate Buy” and an average price target of $25.33.

Aeluma Trading Up 1.4%

The stock has a 50 day simple moving average of $20.81 and a 200-day simple moving average of $17.91. The firm has a market capitalization of $461.41 million, a P/E ratio of -72.00 and a beta of 3.94.

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

Insider Activity at Aeluma

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of the stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $19.99, for a total value of $249,875.00. Following the transaction, the director directly owned 382,709 shares in the company, valued at approximately $7,650,352.91. This trade 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 accessible through this hyperlink. 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 stock was sold at an average price of $24.96, for a total transaction of $499,200.00. Following the transaction, the chief executive officer owned 2,403 shares in the company, valued at $59,978.88. This represents a 89.27% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,500 shares of company stock worth $1,011,075 over the last quarter. Insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Aeluma

Several institutional investors and hedge funds have recently bought and sold shares of ALMU. Polar Asset Management Partners Inc. purchased a new stake in Aeluma in the third quarter worth about $3,398,000. Total Clarity Wealth Management Inc. bought a new position in shares of Aeluma in the fourth quarter worth about $740,000. Westside Investment Management Inc. lifted its position in shares of Aeluma by 51.8% during the 4th quarter. Westside Investment Management Inc. now owns 50,300 shares of the company’s stock valued at $864,000 after buying an additional 17,165 shares in the last quarter. FNY Investment Advisers LLC lifted its position in shares of Aeluma by 242.9% during the 3rd quarter. FNY Investment Advisers LLC now owns 2,935 shares of the company’s stock valued at $47,000 after buying an additional 2,079 shares in the last quarter. Finally, Apis Capital Advisors LLC grew its stake in shares of Aeluma by 4.8% during the 3rd quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company’s stock valued at $4,082,000 after acquiring an additional 11,545 shares during the period.

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.