BlackRock Inc. Makes New $21.49 Million Investment in Aeluma, Inc. $ALMU

Key Points

• BlackRock acquired 973,235 Aeluma shares during the second quarter, investing approximately $21.49 million and taking a 5.32% stake in the company.
• Aeluma shares opened at $12.85, with a market capitalization of about $235.3 million. The stock has traded between $10.24 and $31.79 over the past year and remains well below its 50-day and 200-day moving averages.
• Analyst sentiment is mixed: the consensus rating is “Moderate Buy” with a $25 price target, while some firms maintain sell or strong-sell ratings. Separately, director Steven Denbaars sold 12,500 shares for $173,000.

BlackRock Inc. acquired a new stake in Aeluma, Inc. (NASDAQ:ALMU - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm acquired 973,235 shares of the company's stock, valued at approximately $21,489,000. BlackRock Inc. owned about 5.32% of Aeluma as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Fortitude Advisory Group L.L.C. bought a new stake in shares of Aeluma in the first quarter worth about $464,000. Caitong International Asset Management Co. Ltd acquired a new position in Aeluma during the fourth quarter worth $32,000. MCF Advisors LLC grew its holdings in shares of Aeluma by 12.0% in the 4th quarter. MCF Advisors LLC now owns 18,600 shares of the company's stock valued at $319,000 after acquiring an additional 2,000 shares in the last quarter. ProShare Advisors LLC acquired a new stake in shares of Aeluma in the 4th quarter valued at approximately $277,000. Finally, Mission Wealth Management LP bought a new stake in shares of Aeluma in the 4th quarter valued at about $240,000.

Aeluma Stock Up 3.1%

ALMU stock opened at $12.85 on Thursday. The stock's 50 day moving average is $16.56 and its 200-day moving average is $18.17. Aeluma, Inc. has a twelve month low of $10.24 and a twelve month high of $31.79. The firm has a market capitalization of $235.28 million, a PE ratio of -36.71 and a beta of 4.07.

Analysts Set New Price Targets

ALMU has been the topic of a number of recent research reports. Wall Street Zen lowered Aeluma from a "sell" rating to a "strong sell" rating in a research note on Saturday, May 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of Aeluma in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.00.

Insider Buying and Selling at Aeluma

In related news, Director Steven Denbaars sold 12,500 shares of the business's stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $13.84, for a total transaction of $173,000.00. Following the transaction, the director directly owned 357,709 shares in the company, valued at approximately $4,950,692.56. The trade was a 3.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 14.70% of the stock is owned by insiders.

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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