Aeluma, Inc. (NASDAQ:ALMU) CEO Sells $2,827,500.00 in Stock

Key Points

• Aeluma, Inc. CEO Jonathan Klamkin sold 150,000 shares of the company for approximately $2.83 million, reducing his ownership by 9.21% to 1,479,398 shares.
• After the sale, Aeluma stock saw a decrease, trading down by $3.38 to about $18.10 per share, with the stock showing a 1-year trading range of $2.50 to $25.88.
• Several hedge funds have recently acquired new stakes in Aeluma, indicating increasing institutional interest in the stock, with recent investments ranging from $32,000 to $111,000.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) CEO Jonathan Klamkin sold 150,000 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $18.85, for a total transaction of $2,827,500.00. Following the sale, the chief executive officer owned 1,479,398 shares in the company, valued at $27,886,652.30. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Aeluma Stock Performance

Shares of ALMU traded down $3.38 during mid-day trading on Thursday, reaching $18.10. The company had a trading volume of 682,438 shares, compared to its average volume of 329,497. Aeluma, Inc. has a 1-year low of $2.50 and a 1-year high of $25.88.

Institutional Investors Weigh In On Aeluma

Hedge funds have recently made changes to their positions in the stock. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Aeluma in the 2nd quarter valued at approximately $32,000. JNBA Financial Advisors acquired a new stake in Aeluma during the 2nd quarter worth approximately $52,000. JPMorgan Chase & Co. acquired a new stake in Aeluma during the 2nd quarter worth approximately $74,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Aeluma during the 2nd quarter worth approximately $86,000. Finally, New York State Common Retirement Fund acquired a new stake in Aeluma during the 2nd quarter worth approximately $111,000.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Benchmark assumed coverage on shares of Aeluma in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $25.00 price target on the stock. Craig Hallum assumed coverage on shares of Aeluma in a research note on Monday, July 14th. They issued a "buy" rating and a $26.00 price target on the stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.