Polar Asset Management Partners Inc. Makes New $3.40 Million Investment in Aeluma, Inc. $ALMU

Key Points

• Polar Asset Management acquired 211,083 shares of Aeluma (NASDAQ:ALMU) in Q3 — about $3.40 million, representing roughly 1.18% of the company.
• Other institutional moves included new stakes by Millennium Management (~$3.39M) and Sender Co & Partners (~$299K), while Apis Capital increased its holding to 253,545 shares (~$4.08M).
• Insiders have sold 377,000 shares in the past 90 days (corporate insiders own 14.70%), and analysts' consensus is a Moderate Buy with an average target price of $25.33.

Polar Asset Management Partners Inc. acquired a new stake in Aeluma, Inc. (NASDAQ:ALMU - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 211,083 shares of the company's stock, valued at approximately $3,398,000. Polar Asset Management Partners Inc. owned 1.18% of Aeluma at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Sender Co & Partners Inc. acquired a new stake in Aeluma during the third quarter worth approximately $299,000. Millennium Management LLC acquired a new stake in Aeluma in the third quarter worth $3,392,000. Focus Partners Wealth acquired a new stake in Aeluma in the third quarter worth $73,000. Apis Capital Advisors LLC increased its stake in Aeluma by 4.8% in the third quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company's stock valued at $4,082,000 after purchasing an additional 11,545 shares in the last quarter. Finally, Integrity Wealth Advisors Inc. increased its stake in Aeluma by 17.8% in the third quarter. Integrity Wealth Advisors Inc. now owns 25,429 shares of the company's stock valued at $410,000 after purchasing an additional 3,834 shares in the last quarter.

Aeluma Trading Down 1.5%

ALMU opened at $14.06 on Friday. Aeluma, Inc. has a 1-year low of $5.79 and a 1-year high of $25.88. The company has a market cap of $253.78 million and a price-to-earnings ratio of -100.42. The company's fifty day moving average price is $16.90 and its two-hundred day moving average price is $16.59.

Insiders Place Their Bets

In other news, major shareholder Mark N. Tompkins sold 34,500 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $14.71, for a total value of $507,495.00. Following the transaction, the insider owned 1,790,488 shares in the company, valued at $26,338,078.48. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $17.58, for a total value of $219,750.00. Following the transaction, the director directly owned 397,588 shares in the company, valued at approximately $6,989,597.04. The trade was a 3.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 377,000 shares of company stock valued at $6,449,895. Corporate insiders own 14.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALMU. Benchmark reissued a "buy" rating and set a $25.00 price objective on shares of Aeluma in a research report on Tuesday, March 3rd. UBS Group reaffirmed a "buy" rating on shares of Aeluma in a research report on Tuesday, March 3rd. Williams Trading set a $25.00 price target on Aeluma in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Aeluma in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Aeluma currently has a consensus rating of "Moderate Buy" and an average target price of $25.33.

Aeluma 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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