Jonathan Klamkin Sells 150,000 Shares of Aeluma, Inc. (NASDAQ:ALMU) 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 business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $18.85, for a total value of $2,827,500.00. Following the sale, the chief executive officer owned 1,479,398 shares of the company's stock, valued at approximately $27,886,652.30. The trade was a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Aeluma Trading Up 2.2%

NASDAQ ALMU traded up $0.39 on Tuesday, hitting $18.23. 24,406 shares of the company's stock were exchanged, compared to its average volume of 197,036. Aeluma, Inc. has a fifty-two week low of $2.50 and a fifty-two week high of $25.88. The stock has a market capitalization of $289.49 million and a price-to-earnings ratio of -67.52.

Analyst Upgrades and Downgrades

ALMU has been the subject of several recent analyst reports. Benchmark assumed coverage on Aeluma in a research note on Wednesday, July 23rd. They set a "buy" rating and a $25.00 target price for the company. Craig Hallum assumed coverage on Aeluma in a research note on Monday, July 14th. They issued a "buy" rating and a $26.00 price objective for the company.

Institutional Trading of Aeluma

Institutional investors have recently added to or reduced their stakes in the stock. MASO CAPITAL PARTNERS Ltd purchased a new stake in shares of Aeluma in the second quarter valued at about $401,000. Bank of America Corp DE purchased a new stake in shares of Aeluma in the second quarter valued at about $98,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Aeluma during the second quarter valued at approximately $86,000. New York State Common Retirement Fund purchased a new position in shares of Aeluma during the second quarter valued at approximately $111,000. Finally, Manchester Capital Management LLC purchased a new position in shares of Aeluma during the second quarter valued at approximately $409,000.

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.