Aeluma (NASDAQ:ALMU) Major Shareholder Sells $1,189,394.80 in Stock

Key Points

• Mark Tompkins, a major shareholder of Aeluma, sold 63,604 shares for approximately $1.19 million, reducing his stake by 2.32% to 2,676,582 shares.
• Aeluma's stock price increased by 2.6% during trading, reaching $18.47, with a market capitalization of $329.69 million.
• Analysts have mixed views on Aeluma, with two giving a "buy" rating and one a "sell," resulting in a consensus rating of "hold" with an average target price of $25.50.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) major shareholder Mark Tompkins sold 63,604 shares of the company's stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $18.70, for a total transaction of $1,189,394.80. Following the completion of the transaction, the insider owned 2,676,582 shares in the company, valued at approximately $50,052,083.40. This represents a 2.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Aeluma Stock Up 2.6%

NASDAQ ALMU traded up $0.46 during trading on Monday, reaching $18.47. The company's stock had a trading volume of 411,382 shares, compared to its average volume of 525,480. The stock has a 50-day simple moving average of $18.95. Aeluma, Inc. has a 1-year low of $2.52 and a 1-year high of $25.88. The company has a market capitalization of $329.69 million and a PE ratio of -76.96.

Wall Street Analysts Forecast Growth

ALMU has been the topic of several recent analyst reports. Craig Hallum initiated coverage on Aeluma in a report on Monday, July 14th. They issued a "buy" rating and a $26.00 target price on the stock. Benchmark reissued a "buy" rating and issued a $25.00 price objective on shares of Aeluma in a research report on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aeluma in a research report on Saturday, September 27th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $25.50.

Institutional Investors Weigh In On Aeluma

A number of institutional investors and hedge funds have recently modified their holdings of ALMU. Osaic Holdings Inc. bought a new stake in Aeluma in the second quarter valued at about $32,000. MASO CAPITAL PARTNERS Ltd acquired a new position in Aeluma during the second quarter valued at approximately $401,000. Bank of America Corp DE bought a new stake in Aeluma in the second quarter valued at approximately $98,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Aeluma in the second quarter valued at approximately $86,000. Finally, New York State Common Retirement Fund acquired a new stake in Aeluma in the second quarter worth $111,000.

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.

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