Insider Selling: Aeluma (NASDAQ:ALMU) CEO Sells 20,000 Shares of Stock

Key Points

• CEO Jonathan Klamkin sold 20,000 shares on May 1 under a pre-arranged Rule 10b5-1 plan at an average price of $24.96 for $499,200, leaving him with 2,403 shares (an 89.27% reduction in his ownership).
• The May sale is part of recent large insider divestments — Klamkin previously sold 50,000 shares on March 4 at $18.05 and 20,000 shares on April 1 at $13.10 — totaling 90,000 shares sold in recent months.
• Aeluma shares jumped about 19.3% to $27.38 on heavy volume; the company has a market cap of roughly $493M, a high beta (4.49), and a mixed analyst consensus of "Moderate Buy" with an average price target of $25.33.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) CEO Jonathan Klamkin sold 20,000 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $24.96, for a total value of $499,200.00. Following the completion of the sale, the chief executive officer owned 2,403 shares of the company's stock, valued at $59,978.88. This trade represents a 89.27% 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 the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Klamkin also recently made the following trade(s):

• On Wednesday, April 1st, Jonathan Klamkin sold 20,000 shares of Aeluma stock. The stock was sold at an average price of $13.10, for a total transaction of $262,000.00.
• On Wednesday, March 4th, Jonathan Klamkin sold 50,000 shares of Aeluma stock. The stock was sold at an average price of $18.05, for a total transaction of $902,500.00.

Aeluma Stock Up 19.3%

Aeluma stock traded up $4.42 during midday trading on Tuesday, hitting $27.38. The company's stock had a trading volume of 2,706,096 shares, compared to its average volume of 987,453. The stock's 50-day moving average price is $15.68 and its 200-day moving average price is $16.09. Aeluma, Inc. has a 12 month low of $10.20 and a 12 month high of $28.39. The company has a market capitalization of $492.92 million, a PE ratio of -195.56 and a beta of 4.49.

Institutional Investors Weigh In On Aeluma

Several hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC purchased a new stake in Aeluma during the second quarter valued at about $3,850,000. Cetera Investment Advisers bought a new position in Aeluma during the second quarter valued at approximately $613,000. JPMorgan Chase & Co. bought a new position in Aeluma during the second quarter valued at approximately $74,000. Rhumbline Advisers bought a new position in Aeluma during the second quarter valued at approximately $228,000. Finally, New York State Common Retirement Fund bought a new position in Aeluma during the second quarter valued at approximately $111,000.

Analyst Ratings Changes

ALMU has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aeluma in a research note on Monday, April 20th. Williams Trading set a $25.00 price objective on Aeluma in a research note on Tuesday, March 3rd. Freedom Capital raised shares of Aeluma to a "strong-buy" rating in a research note on Tuesday, March 31st. Benchmark reissued a "buy" rating and issued a $25.00 price objective on shares of Aeluma in a research note on Tuesday, March 3rd. Finally, UBS Group reissued a "buy" rating on shares of Aeluma in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $25.33.

About Aeluma

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.