Aeluma's (ALMU) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• Aeluma's stock (NASDAQ: ALMU) has been reaffirmed with a "Sell (D-)" rating by Weiss Ratings, indicating ongoing concerns about its performance.
• In contrast, research analysts from Craig Hallum and Benchmark have rated Aeluma as "Buy" with price targets of $26.00 and $25.00 respectively, suggesting some analysts remain optimistic about the company's future.
• A significant number of insider sales have occurred, with major shareholder Mark N. Tompkins selling over 63,000 shares, reflecting a 2.32% decrease in ownership, and CEO Jonathan Klamkin selling 150,000 shares, representing a 9.21% decline in their stake.

Aeluma (NASDAQ:ALMU - Get Free Report)'s stock had its "sell (d-)" rating reissued by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently weighed in on ALMU. Craig Hallum started coverage on shares of Aeluma in a research report on Monday, July 14th. They set a "buy" rating and a $26.00 price objective on the stock. Benchmark reaffirmed a "buy" rating and set a $25.00 target price on shares of Aeluma in a report on Wednesday, September 24th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Aeluma has an average rating of "Hold" and an average target price of $25.50.

Aeluma Price Performance

Aeluma stock traded up $0.12 during midday trading on Wednesday, reaching $17.67. 191,031 shares of the company traded hands, compared to its average volume of 236,036. The stock has a market cap of $315.41 million and a price-to-earnings ratio of -73.63. The company's 50 day simple moving average is $18.86. Aeluma has a 12 month low of $2.52 and a 12 month high of $25.88.

Insiders Place Their Bets

In other news, major shareholder Mark N. Tompkins sold 63,604 shares of the stock in a transaction on Monday, October 6th. The shares were sold at an average price of $18.70, for a total value of $1,189,394.80. Following the completion of the sale, the insider directly owned 2,676,582 shares of the company's stock, valued at $50,052,083.40. This represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jonathan Klamkin sold 150,000 shares of the company's 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 transaction, the chief executive officer owned 1,479,398 shares of the company's stock, valued at approximately $27,886,652.30. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 388,831 shares of company stock valued at $6,997,493.

Institutional Trading of Aeluma

Hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. purchased a new stake in shares of Aeluma during the 2nd quarter valued at about $32,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Aeluma in the 2nd quarter worth about $32,000. JNBA Financial Advisors bought a new stake in shares of Aeluma in the 2nd quarter worth about $52,000. JPMorgan Chase & Co. bought a new stake in shares of Aeluma in the 2nd quarter worth about $74,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Aeluma in the 2nd quarter worth about $86,000.

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.

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