Aeluma (NASDAQ:ALMU) Posts Quarterly Earnings Results

Key Points

• Aeluma (NASDAQ:ALMU) reported a quarterly earnings per share (EPS) of ($0.01), with a negative net margin of 86.85% and return on equity of 87.90%.
• The company's stock traded up by $0.50 to reach $18.20, with a market capitalization of $289.02 million and a price-to-earnings ratio of -67.41.
• Recent insider trading saw CEO Jonathan Klamkin selling 150,000 shares at an average price of $18.85, reducing his ownership by 9.21%.

Aeluma (NASDAQ:ALMU - Get Free Report) issued its earnings results on Tuesday. The company reported ($0.01) EPS for the quarter, Zacks reports. Aeluma had a negative net margin of 86.85% and a negative return on equity of 87.90%.

Aeluma Stock Performance

NASDAQ ALMU traded up $0.50 on Tuesday, hitting $18.20. The company's stock had a trading volume of 326,808 shares, compared to its average volume of 200,701. Aeluma has a 52-week low of $2.50 and a 52-week high of $25.88. The firm's 50-day simple moving average is $19.55. The firm has a market capitalization of $289.02 million and a price-to-earnings ratio of -67.41.

Insiders Place Their Bets

In other Aeluma news, CEO Jonathan Klamkin sold 150,000 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $18.85, for a total transaction of $2,827,500.00. Following the sale, the chief executive officer directly owned 1,479,398 shares in the company, valued at approximately $27,886,652.30. This trade represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On Aeluma

Large investors have recently made changes to their positions in the company. Osaic Holdings Inc. bought a new stake in Aeluma during the second quarter worth approximately $32,000. JPMorgan Chase & Co. bought a new position in Aeluma in the second quarter worth approximately $74,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Aeluma during the second quarter worth $86,000. Bank of America Corp DE purchased a new stake in shares of Aeluma during the 2nd quarter valued at $98,000. Finally, New York State Common Retirement Fund purchased a new position in Aeluma in the 2nd quarter worth $111,000.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ALMU shares. Craig Hallum initiated coverage on Aeluma in a research note on Monday, July 14th. They issued a "buy" rating and a $26.00 price target on the stock. Benchmark assumed coverage on Aeluma in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $25.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $25.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.