Insider Selling: Aeluma (NASDAQ:ALMU) Director Sells 12,500 Shares of Stock

Key Points

• Aeluma director Steven Denbaars sold 12,500 shares at an average price of $13.84, totaling $173,000. His remaining direct stake fell 3.38% to 357,709 shares.
• ALMU shares declined $0.78 to $13.14 during Friday trading, well below the 50-day and 200-day moving averages of $17.34 and $18.26, respectively. The stock has traded between $10.24 and $31.79 over the past year.
• Analyst sentiment is mixed, with a consensus “Moderate Buy” rating and an average price target of $25.00, despite recent “sell” and “strong sell” recommendations.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) Director Steven Denbaars sold 12,500 shares of the company's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $13.84, for a total value of $173,000.00. Following the completion of the transaction, the director directly owned 357,709 shares in the company, valued at $4,950,692.56. This trade represents a 3.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Aeluma Stock Performance

ALMU stock traded down $0.78 during midday trading on Friday, reaching $13.14. The company's stock had a trading volume of 424,520 shares, compared to its average volume of 960,015. Aeluma, Inc. has a 1 year low of $10.24 and a 1 year high of $31.79. The firm has a market capitalization of $240.59 million, a price-to-earnings ratio of -37.54 and a beta of 4.18. The stock has a fifty day simple moving average of $17.34 and a two-hundred day simple moving average of $18.26.

Hedge Funds Weigh In On Aeluma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc bought a new stake in shares of Aeluma in the second quarter valued at about $26,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Aeluma in the 4th quarter valued at about $27,000. Quantbot Technologies LP purchased a new stake in shares of Aeluma in the 3rd quarter worth approximately $29,000. BNP Paribas Financial Markets lifted its holdings in Aeluma by 79.2% during the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company's stock worth $31,000 after buying an additional 855 shares during the period. Finally, Osaic Holdings Inc. purchased a new stake in shares of Aeluma during the 2nd quarter worth $32,000.

Wall Street Analysts Forecast Growth

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

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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