Aeluma (NASDAQ:ALMU) Sets New 1-Year High - Should You Buy?

Key Points

• Aeluma (ALMU) reached a new 52-week high of $28.73 (last $27.89) on ~1.8M shares, trading well above its 50- and 200-day moving averages (~$15.93 and $16.16) with a market cap of ~$511.6M and a high beta (4.49).
• Analysts hold a “Moderate Buy” consensus (1 Strong Buy, 3 Buy, 1 Sell) but the average price target of $25.33 sits below the current share price.
• Insiders have sold 102,500 shares (~$1.88M) in the last 90 days, including stock sales by the CEO and a director (insiders still own 14.7%), while institutional investors like Vanguard, Geode and State Street have been increasing stakes.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $28.73 and last traded at $27.8880, with a volume of 1800187 shares. The stock had previously closed at $27.38.

Analysts Set New Price Targets

ALMU has been the subject of several recent analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Aeluma in a report on Monday, April 20th. Benchmark reissued a "buy" rating and issued a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. Freedom Capital raised shares of Aeluma to a "strong-buy" rating in a report on Tuesday, March 31st. UBS Group reissued a "buy" rating on shares of Aeluma in a report on Tuesday, March 3rd. Finally, Williams Trading set a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $25.33.

Aeluma Price Performance

The business has a 50 day moving average of $15.93 and a 200 day moving average of $16.16. The firm has a market capitalization of $511.56 million, a price-to-earnings ratio of -202.99 and a beta of 4.49.

Insider Activity

In related news, Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $17.58, for a total transaction of $219,750.00. Following the transaction, the director owned 397,588 shares of the company's stock, valued at $6,989,597.04. This trade represents a 3.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan Klamkin sold 50,000 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $18.05, for a total transaction of $902,500.00. Following the transaction, the chief executive officer owned 1,429,398 shares of the company's stock, valued at approximately $25,800,633.90. This represents a 3.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 102,500 shares of company stock valued at $1,883,450 over the last 90 days. Corporate insiders own 14.70% of the company's stock.

Hedge Funds Weigh In On Aeluma

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Aeluma by 98.1% during the third 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 in the last quarter. Geode Capital Management LLC boosted its position in shares of Aeluma by 22.5% during the fourth quarter. Geode Capital Management LLC now owns 285,732 shares of the company's stock worth $4,907,000 after purchasing an additional 52,565 shares in the last quarter. Apis Capital Advisors LLC boosted its position in shares of Aeluma by 4.8% during the third quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company's stock worth $4,082,000 after purchasing an additional 11,545 shares in the last quarter. State Street Corp boosted its position in shares of Aeluma by 34.0% during the fourth 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 in the last quarter. Finally, Polar Asset Management Partners Inc. bought a new stake in Aeluma in the 3rd quarter valued at $3,398,000.

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. Aeluma, Inc was formerly known as Parc Investments, Inc and changed its name to Aeluma, Inc June 2021.

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