Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells 33,580 Shares of Stock

Key Points

• Major shareholder Mark Tompkins sold 33,580 shares of Aeluma (NASDAQ:ALMU) stock on September 30th, decreasing his ownership by 1.16%.
• The sale was executed at an average price of $16.19, totaling approximately $543,660.
• Analysts have set a buy rating for Aeluma, with a consensus price target around $25.50.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) major shareholder Mark Tompkins sold 33,580 shares of the company's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $16.19, for a total transaction of $543,660.20. Following the sale, the insider owned 2,856,833 shares of the company's stock, valued at approximately $46,252,126.27. The trade was a 1.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Aeluma Price Performance

Shares of ALMU stock opened at $17.18 on Thursday. The firm's 50-day moving average is $19.27. Aeluma, Inc. has a 1-year low of $2.52 and a 1-year high of $25.88. The stock has a market cap of $306.66 million and a PE ratio of -71.58.

Hedge Funds Weigh In On Aeluma

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC bought a new position in shares of Aeluma in the 2nd quarter worth about $3,850,000. Cetera Investment Advisers purchased a new stake in Aeluma in the second quarter worth about $613,000. Manchester Capital Management LLC purchased a new stake in Aeluma in the second quarter worth about $409,000. MASO CAPITAL PARTNERS Ltd bought a new position in shares of Aeluma during the second quarter valued at approximately $401,000. Finally, Atria Wealth Solutions Inc. lifted its holdings in shares of Aeluma by 3.1% during the second quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company's stock valued at $275,000 after purchasing an additional 500 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms recently commented on ALMU. Benchmark reiterated a "buy" rating and set a $25.00 price target on shares of Aeluma in a report on Wednesday, September 24th. Craig Hallum initiated coverage on shares of Aeluma in a research note on Monday, July 14th. They set a "buy" rating and a $26.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $25.50.

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.

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