Aeluma (NASDAQ:ALMU) Trading Up 21.3% - What's Next?

Key Points

• Aeluma (NASDAQ:ALMU) jumped 21.3% on Tuesday to about $27.85 intraday, with roughly 1.31 million shares traded—about 36% above its average session volume.
• Analyst coverage is mixed but the consensus is a Moderate Buy, with an average price target of $25.33, which is below the current trading level.
• Insiders have sold shares recently (117,000 shares over the last 90 days) even as institutional investors like Vanguard significantly increased their positions, indicating simultaneous insider selling and institutional accumulation.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) traded up 21.3% on Tuesday . The company traded as high as $28.39 and last traded at $27.8540. 1,309,092 shares were traded during trading, an increase of 36% from the average session volume of 964,062 shares. The stock had previously closed at $22.96.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Benchmark reaffirmed a "buy" rating and set a $25.00 target price on shares of Aeluma in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aeluma in a research note on Monday, April 20th. Freedom Capital raised shares of Aeluma to a "strong-buy" rating in a research note on Tuesday, March 31st. Williams Trading set a $25.00 target price on shares of Aeluma in a research note on Tuesday, March 3rd. Finally, UBS Group reaffirmed a "buy" rating on shares of Aeluma in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $25.33.

Aeluma Price Performance

The company has a market cap of $492.91 million, a P/E ratio of -195.32 and a beta of 4.49. The company's 50-day moving average is $15.44 and its two-hundred day moving average is $16.05.

Insider Activity at Aeluma

In related news, major shareholder Mark N. Tompkins sold 34,500 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $14.71, for a total transaction of $507,495.00. Following the completion of the sale, the insider owned 1,790,488 shares of the company's stock, valued at $26,338,078.48. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Denbaars sold 12,500 shares of the firm's 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 sale, the director directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 117,000 shares of company stock valued at $1,891,745 over the last 90 days. Corporate insiders own 14.70% of the company's stock.

Institutional Investors Weigh In On Aeluma

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased 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 valued at $7,067,000 after acquiring an additional 217,430 shares in the last quarter. Geode Capital Management LLC grew its position in Aeluma by 22.5% in the 4th 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 during the period. Apis Capital Advisors LLC grew its position in Aeluma by 4.8% in the 3rd 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 during the period. State Street Corp grew its position in Aeluma by 34.0% in the 4th 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 during the period. Finally, Polar Asset Management Partners Inc. bought a new stake in Aeluma in the 3rd quarter worth approximately $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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