Aeluma (NASDAQ:ALMU) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• Aeluma reported a quarterly loss of $0.12 per share, beating analyst estimates of a $0.13 loss by $0.01. The company also reported a negative 205.31% net margin and negative 18.14% return on equity.
• Shares rose 5.1% to $7.58 on Thursday. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $22.75.
• Company insiders sold 212,500 shares worth about $2.56 million over the past three months, including sales by the CEO and a director.

Aeluma (NASDAQ:ALMU - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.01, Zacks reports. Aeluma had a negative return on equity of 18.14% and a negative net margin of 205.31%.

Aeluma Trading Up 5.1%

Shares of NASDAQ:ALMU traded up $0.37 during trading on Thursday, hitting $7.58. 798,004 shares of the company's stock were exchanged, compared to its average volume of 888,721. The firm has a market cap of $146.41 million, a P/E ratio of -14.58 and a beta of 4.52. The firm has a 50-day moving average price of $10.54 and a two-hundred day moving average price of $16.12. Aeluma has a 1-year low of $5.87 and a 1-year high of $31.79.

Analysts Set New Price Targets

ALMU has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aeluma in a report on Thursday, October 15th. Zacks Research initiated coverage on Aeluma in a research report on Tuesday, November 3rd. They set a "hold" rating for the company. Northland Securities initiated coverage on Aeluma in a research report on Monday, November 2nd. They set an "outperform" rating and a $16.00 target price for the company. Finally, Freedom Broker lowered their price target on Aeluma from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Aeluma presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.75.

Insiders Place Their Bets

In other Aeluma news, Director Steven Denbaars sold 12,500 shares of the firm's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total transaction of $173,000.00. Following the transaction, the director owned 357,709 shares in the company, valued at approximately $4,950,692.56. This trade represents a 3.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan Klamkin sold 100,000 shares of the company's stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the completion of the sale, the chief executive officer directly owned 1,126,995 shares of the company's stock, valued at $11,867,257.35. The trade was a 8.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 212,500 shares of company stock worth $2,561,000. 12.78% of the stock is currently owned by company insiders.

Aeluma Company Profile

Aeluma, Inc. develops semiconductor materials and optoelectronic devices using technology designed to integrate compound semiconductors with silicon wafers. Its approach aims to combine the performance of compound semiconductors with the scale and manufacturing advantages of silicon-based processes. The company's technology is intended for applications in areas such as optical communications, sensing, and other photonics markets. Potential device applications include lasers and photodetectors, which can be used to generate or detect light in electronic systems.

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