Aeluma (NASDAQ:ALMU) Trading Up 2.9% - Time to Buy?

Key Points

• Aeluma shares rose 2.9% to $16.67, with trading volume 38% above average; however, the stock remains below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but averages a “Moderate Buy” rating, with a consensus price target of $25.00 compared with the current price.
• The company beat quarterly EPS expectations by $0.01 but missed revenue estimates, reporting $1.22 million in sales and a negative net margin of 115.57%; a director also sold 12,500 shares under a pre-arranged trading plan.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report)'s stock price shot up 2.9% during trading on Monday . The stock traded as high as $17.55 and last traded at $16.67. 707,948 shares traded hands during trading, an increase of 38% from the average session volume of 513,210 shares. The stock had previously closed at $16.20.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Aeluma from a "sell" rating to a "strong sell" rating in a report on Saturday, May 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Aeluma in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Aeluma currently has an average rating of "Moderate Buy" and an average price target of $25.00.

Aeluma Stock Up 2.9%

The firm's fifty day moving average is $20.22 and its two-hundred day moving average is $18.42. The firm has a market cap of $305.23 million, a P/E ratio of -47.63 and a beta of 4.19.

Aeluma (NASDAQ:ALMU - Get Free Report) last issued its quarterly earnings data on Wednesday, May 13th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%. The business had revenue of $1.22 million during the quarter, compared to analyst estimates of $1.37 million.

Insider Activity

In related news, Director Steven Denbaars sold 12,500 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $19.99, for a total value of $249,875.00. Following the completion of the transaction, the director directly owned 382,709 shares of the company's stock, valued at $7,650,352.91. This represents a 3.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 14.70% of the stock is owned by corporate insiders.

Institutional Trading of Aeluma

Several large investors have recently bought and sold shares of ALMU. Polar Asset Management Partners Inc. lifted its stake in shares of Aeluma by 0.8% in the 1st quarter. Polar Asset Management Partners Inc. now owns 91,030 shares of the company's stock valued at $1,192,000 after purchasing an additional 747 shares during the period. BNP Paribas Financial Markets grew its stake in Aeluma by 79.2% in the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company's stock worth $31,000 after purchasing an additional 855 shares during the period. &PARTNERS grew its stake in Aeluma by 6.5% in the fourth quarter. &PARTNERS now owns 15,057 shares of the company's stock worth $259,000 after purchasing an additional 923 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Aeluma in the fourth quarter worth $27,000. Finally, Quantbot Technologies LP bought a new position in Aeluma in the third quarter worth $29,000.

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

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