Freedom Broker Has Lowered Expectations for Aeluma (NASDAQ:ALMU) Stock Price

Key Points

• Freedom Broker lowered Aeluma’s price target from $30 to $25 while maintaining a “buy” rating, implying 116.09% upside from the previous close.
• Aeluma shares fell to $11.57, with the stock trading well below its 50-day and 200-day moving averages. The company reported a quarterly loss of $0.15 per share on $0.58 million in revenue.
• Analyst sentiment remains mixed: MarketBeat lists a “Moderate Buy” consensus and a $25 target, while Weiss Ratings reiterated a “sell (D-)” rating; an Aeluma director also recently sold 12,500 shares.

Aeluma (NASDAQ:ALMU - Get Free Report) had its target price cut by stock analysts at Freedom Broker from $30.00 to $25.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the stock. Freedom Broker's target price indicates a potential upside of 116.09% from the stock's previous close.

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Aeluma in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Aeluma has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.

Aeluma Stock Performance

ALMU stock traded down $1.86 on Thursday, reaching $11.57. The company's stock had a trading volume of 1,581,001 shares, compared to its average volume of 933,194. The business has a fifty day simple moving average of $15.24 and a two-hundred day simple moving average of $17.98. The firm has a market cap of $211.83 million, a PE ratio of -33.14 and a beta of 4.07. Aeluma has a 12-month low of $10.24 and a 12-month high of $31.79.

Aeluma (NASDAQ:ALMU - Get Free Report) last posted its earnings results on Wednesday, September 16th. The company reported ($0.15) EPS for the quarter. The company had revenue of $0.58 million during the quarter. Aeluma had a negative return on equity of 12.03% and a negative net margin of 115.57%.

Insider Activity at Aeluma

In related news, Director Steven Denbaars sold 12,500 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total transaction of $173,000.00. Following the completion of the sale, the director owned 357,709 shares in the company, valued at approximately $4,950,692.56. This represents a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Aeluma

Institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC bought a new stake in Aeluma during the second quarter valued at approximately $269,000. Fortitude Advisory Group L.L.C. raised its position in Aeluma by 6.0% in the second quarter. Fortitude Advisory Group L.L.C. now owns 37,567 shares of the company's stock worth $829,000 after acquiring an additional 2,132 shares during the period. JNBA Financial Advisors boosted its stake in shares of Aeluma by 107.2% during the 2nd quarter. JNBA Financial Advisors now owns 3,340 shares of the company's stock worth $74,000 after acquiring an additional 1,728 shares during the last quarter. Wedbush Securities Inc. bought a new stake in shares of Aeluma during the 2nd quarter valued at $1,135,000. Finally, Bank of America Corp DE bought a new stake in shares of Aeluma during the 2nd quarter valued at $509,000.

About Aeluma

Aeluma, Inc is a semiconductor company that develops and manufactures high-performance components for communications, sensing, computing and other advanced technology applications. The company's technology is designed to support the production of semiconductor devices on large-area and nontraditional substrates, with the goal of improving performance, scalability and integration.

Aeluma's products and development efforts include photonic and optoelectronic components such as photodetectors and related devices used in optical communications, data centers, 3D sensing, artificial intelligence, aerospace and defense, automotive systems, and consumer electronics.

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