Aeluma (NASDAQ:ALMU) Major Shareholder Sells $611,450.00 in Stock

Key Points

• Mark Tompkins, a major shareholder of Aeluma (NASDAQ:ALMU), sold 35,000 shares of his stock for $611,450, reducing his stake by 1.32% to approximately 2.6 million shares valued at about $45.5 million.
• Aeluma's stock price experienced a 7.6% drop to $16.50, with a negative P/E ratio of -68.75 and a market cap of $294.53 million.
• Research firms have mixed ratings on Aeluma; with Craig Hallum and Benchmark rating it as a "buy," while Weiss Ratings issued a "sell" rating, leading to an average consensus price target of $25.50.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) major shareholder Mark Tompkins sold 35,000 shares of the business's stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $17.47, for a total transaction of $611,450.00. Following the sale, the insider directly owned 2,606,582 shares of the company's stock, valued at approximately $45,536,987.54. The trade was a 1.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Aeluma Stock Down 7.6%

ALMU stock traded down $1.36 during mid-day trading on Thursday, hitting $16.50. The company had a trading volume of 429,639 shares, compared to its average volume of 475,470. The company has a market capitalization of $294.53 million and a P/E ratio of -68.75. Aeluma, Inc. has a 12-month low of $2.52 and a 12-month high of $25.88. The firm's 50-day moving average price is $18.62.

Aeluma (NASDAQ:ALMU - Get Free Report) last issued its quarterly earnings results on Thursday, November 9th. The company reported ($0.11) EPS for the quarter. Aeluma had a negative net margin of 64.79% and a negative return on equity of 40.79%.

Wall Street Analyst Weigh In

Several research firms recently commented on ALMU. Craig Hallum initiated coverage on shares of Aeluma in a research report on Monday, July 14th. They set a "buy" rating and a $26.00 price target on the stock. Benchmark reissued a "buy" rating and issued a $25.00 price target on shares of Aeluma in a research note on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aeluma in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $25.50.

Institutional Trading of Aeluma

A number of hedge funds have recently made changes to their positions in ALMU. Geode Capital Management LLC acquired a new position in Aeluma in the second quarter worth $3,850,000. Cetera Investment Advisers acquired a new position in shares of Aeluma in the 2nd quarter valued at about $613,000. Rhumbline Advisers bought a new stake in shares of Aeluma in the 2nd quarter valued at approximately $228,000. New York State Common Retirement Fund bought a new stake in shares of Aeluma in the 2nd quarter valued at approximately $111,000. Finally, Bank of America Corp DE bought a new stake in Aeluma during the second quarter worth approximately $98,000.

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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