Aeluma, Inc. (NASDAQ:ALMU) Sees Significant Increase in Short Interest

Key Points

• Short interest jumped 18.7% in March to 3,106,499 shares (about 20.2% of the float) with a days-to-cover ratio of 5.5, indicating elevated bearish positioning.
• Analysts are generally positive—MarketBeat shows an average rating of "Moderate Buy" and an average price target of $25.33, supported by multiple Buy/Strong Buy ratings despite one Sell.
• Insiders sold 317,000 shares (~$5.44M) in the last quarter (insiders still own 14.7%), while institutions including Vanguard and Geode have added or increased stakes, reflecting mixed insider versus institutional activity.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) was the recipient of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 3,106,499 shares, a growth of 18.7% from the March 15th total of 2,617,374 shares. Based on an average daily volume of 562,753 shares, the days-to-cover ratio is currently 5.5 days. Currently, 20.2% of the company's shares are short sold.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. UBS Group reiterated a "buy" rating on shares of Aeluma in a report on Tuesday, March 3rd. Weiss Ratings reiterated a "sell (d-)" rating on shares of Aeluma in a report on Wednesday, January 21st. Williams Trading set a $25.00 target price on Aeluma in a report on Tuesday, March 3rd. Freedom Capital raised Aeluma to a "strong-buy" rating in a report on Tuesday, March 31st. Finally, Benchmark reissued a "buy" rating and issued a $25.00 target price on shares of Aeluma in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $25.33.

Insider Buying and Selling at Aeluma

In other news, major shareholder Mark N. Tompkins sold 34,500 shares of the company's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $14.71, for a total value of $507,495.00. Following the sale, the insider directly owned 1,790,488 shares of the company's stock, valued at $26,338,078.48. This represents a 1.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven Denbaars sold 12,500 shares of the company's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $17.58, for a total transaction of $219,750.00. Following the completion of the transaction, the director owned 397,588 shares in the company, valued at approximately $6,989,597.04. The trade was a 3.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 317,000 shares of company stock valued at $5,436,095 in the last quarter. Company insiders own 14.70% of the company's stock.

Institutional Investors Weigh In On Aeluma

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC purchased a new stake in Aeluma during the second quarter valued at approximately $3,850,000. Vanguard Group Inc. raised its holdings in Aeluma by 98.1% in the 3rd quarter. Vanguard Group Inc. now owns 438,966 shares of the company's stock worth $7,067,000 after purchasing an additional 217,430 shares during the period. Polar Asset Management Partners Inc. bought a new position in Aeluma in the 3rd quarter worth $3,398,000. Millennium Management LLC bought a new position in Aeluma in the 3rd quarter worth $3,392,000. Finally, State Street Corp raised its holdings in Aeluma by 34.0% in the 4th quarter. State Street Corp now owns 213,405 shares of the company's stock worth $3,664,000 after purchasing an additional 54,184 shares during the period.

Aeluma Price Performance

ALMU stock opened at $17.35 on Friday. The company has a market cap of $312.30 million and a P/E ratio of -123.92. Aeluma has a 1 year low of $6.48 and a 1 year high of $25.88. The stock's fifty day moving average price is $14.74 and its 200-day moving average price is $15.95.

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.

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