Freedom Broker Cuts Aeluma (NASDAQ:ALMU) Price Target to $25.00

Aeluma (NASDAQ:ALMU) had its price target cut by Freedom Broker from $30.00 to $25.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Aeluma Trading Up 10.2%

ALMU opened at $12.73 on Thursday. Aeluma has a twelve month low of $10.24 and a twelve month high of $31.79. The firm has a market capitalization of $233.09 million, a PE ratio of -24.48 and a beta of 4.07. The firm’s 50-day moving average price is $15.01 and its 200 day moving average price is $17.92.

Aeluma (NASDAQ:ALMU) last released its quarterly earnings data on Wednesday, September 16th. The company reported ($0.15) earnings per share (EPS) for the quarter. Aeluma had a negative return on equity of 18.14% and a negative net margin of 205.31%.The firm had revenue of $0.58 million for the quarter.

Insider Activity

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of the stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total value of $173,000.00. Following the sale, the director owned 357,709 shares of the company’s stock, valued at $4,950,692.56. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On Aeluma

A number of large investors have recently modified their holdings of ALMU. Squarepoint Ops LLC purchased a new stake in shares of Aeluma during the 2nd quarter worth $269,000. Fortitude Advisory Group L.L.C. increased its holdings in Aeluma by 6.0% in the second quarter. Fortitude Advisory Group L.L.C. now owns 37,567 shares of the company’s stock valued at $829,000 after buying an additional 2,132 shares during the last quarter. JNBA Financial Advisors increased its holdings in Aeluma by 107.2% in the second quarter. JNBA Financial Advisors now owns 3,340 shares of the company’s stock valued at $74,000 after buying an additional 1,728 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in Aeluma in the second quarter valued at $1,135,000. Finally, Bank of America Corp DE acquired a new stake in Aeluma in the second quarter valued at $509,000.

About Aeluma

Aeluma, Inc is a semiconductor company that develops and manufactures high-performance components for communications, sensing, computing and other advanced technology applications. The company’s technology is designed to support the production of semiconductor devices on large-area and nontraditional substrates, with the goal of improving performance, scalability and integration.

Aeluma’s products and development efforts include photonic and optoelectronic components such as photodetectors and related devices used in optical communications, data centers, 3D sensing, artificial intelligence, aerospace and defense, automotive systems, and consumer electronics.