Jonathan Klamkin Sells 100,000 Shares of Aeluma (NASDAQ:ALMU) Stock

Key Points

• CEO Jonathan Klamkin sold 100,000 Aeluma shares at an average price of $13.35, generating $1.335 million. The transaction was made under a pre-arranged Rule 10b5-1 plan and reduced his stake by 7.54% to 1,226,995 shares.
• Aeluma shares traded at $13.18, well below their 50-day and 200-day moving averages of $14.83 and $17.82, respectively. The stock has ranged from $10.24 to $31.79 over the past year.
• The company reported a quarterly loss of $0.15 per share on $0.58 million in revenue, while analyst sentiment remains a Moderate Buy with a $25 consensus price target; several institutional investors also initiated positions.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) CEO Jonathan Klamkin sold 100,000 shares of the business's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $13.35, for a total transaction of $1,335,000.00. Following the completion of the sale, the chief executive officer owned 1,226,995 shares of the company's stock, valued at approximately $16,380,383.25. This represents a 7.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aeluma Price Performance

Shares of ALMU traded down $0.72 during mid-day trading on Wednesday, hitting $13.18. The company's stock had a trading volume of 477,780 shares, compared to its average volume of 635,262. The company's 50-day moving average is $14.83 and its 200-day moving average is $17.82. Aeluma, Inc. has a 52-week low of $10.24 and a 52-week high of $31.79.

Aeluma (NASDAQ:ALMU - Get Free Report) last issued its quarterly earnings data on Wednesday, September 16th. The company reported ($0.15) EPS for the quarter. Aeluma had a negative return on equity of 18.14% and a negative net margin of 205.31%.The business had revenue of $0.58 million during the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALMU. BlackRock Inc. acquired a new stake in shares of Aeluma during the second quarter worth about $21,489,000. AWM Investment Company Inc. acquired a new position in Aeluma in the 2nd quarter worth approximately $2,901,000. Bank of New York Mellon Corp purchased a new position in Aeluma during the 2nd quarter worth approximately $2,047,000. Wedbush Securities Inc. purchased a new position in Aeluma during the 2nd quarter worth approximately $1,135,000. Finally, Fortitude Advisory Group L.L.C. acquired a new stake in Aeluma during the 1st quarter valued at approximately $464,000.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ALMU. Weiss Ratings restated a "sell (d-)" rating on shares of Aeluma in a research note on Friday, July 17th. Freedom Broker lowered their price target on Aeluma from $30.00 to $25.00 and set a "buy" rating for the company in a report on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $25.00.

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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