Aeluma (NASDAQ:ALMU) Now Covered by Analysts at Benchmark

Benchmark started coverage on shares of Aeluma (NASDAQ:ALMU - Free Report) in a report released on Wednesday morning, MarketBeat reports. The brokerage issued a buy rating and a $25.00 price target on the stock.

Separately, Craig Hallum began coverage on Aeluma in a research note on Monday, July 14th. They set a "buy" rating and a $26.00 target price for the company.

Aeluma Stock Performance

ALMU traded up $1.90 on Wednesday, reaching $23.59. 359,356 shares of the company's stock were exchanged, compared to its average volume of 353,941. The company has a market cap of $372.60 million and a PE ratio of -87.37. Aeluma has a twelve month low of $2.50 and a twelve month high of $23.85.

Hedge Funds Weigh In On Aeluma

An institutional investor recently raised its position in Aeluma stock. Atria Wealth Solutions Inc. increased its stake in shares of Aeluma, Inc. (NASDAQ:ALMU - Free Report) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,771 shares of the company's stock after acquiring an additional 500 shares during the quarter. Atria Wealth Solutions Inc. owned about 0.11% of Aeluma worth $275,000 at the end of the most recent reporting period.

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.