Wedbush Securities Inc. Purchases Shares of 51,425 Aeluma, Inc. $ALMU

Wedbush Securities Inc. acquired a new stake in Aeluma, Inc. (NASDAQ:ALMU) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,425 shares of the company’s stock, valued at approximately $1,135,000. Wedbush Securities Inc. owned 0.28% of Aeluma as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc purchased a new stake in Aeluma in the second quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new position in Aeluma during the 4th quarter worth approximately $27,000. Quantbot Technologies LP purchased a new position in Aeluma during the 3rd quarter worth approximately $29,000. BNP Paribas Financial Markets lifted its stake in Aeluma by 79.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock valued at $31,000 after acquiring an additional 855 shares during the period. Finally, Osaic Holdings Inc. acquired a new stake in Aeluma during the 2nd quarter valued at approximately $32,000.

Insider Activity

In related news, Director Steven Denbaars sold 12,500 shares of the stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $13.84, for a total transaction of $173,000.00. Following the sale, the director directly owned 357,709 shares of the company’s stock, valued at approximately $4,950,692.56. This represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 14.70% of the stock is currently owned by corporate insiders.

Aeluma Trading Down 0.3%

Aeluma stock opened at $13.10 on Tuesday. The firm has a market cap of $239.86 million, a PE ratio of -37.43 and a beta of 4.19. Aeluma, Inc. has a 12 month low of $10.24 and a 12 month high of $31.79. The stock’s 50 day simple moving average is $16.91 and its two-hundred day simple moving average is $18.22.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ALMU. Wall Street Zen lowered shares of Aeluma from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.00.

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.