Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells 35,331 Shares of Stock

Key Points

• Major shareholder Mark Tompkins of Aeluma (NASDAQ:ALMU) sold 35,331 shares at an average price of $16.98, totaling approximately $599,920, reducing his ownership by 1.39%.
• Aeluma's stock has been volatile, with a twelve-month range between $2.52 and $25.88, and recently traded at $19.72.
• Research analysts have varied opinions on Aeluma's stock, with a recent average target price of $25.50 and conflicting ratings including "buy" and "sell."

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) major shareholder Mark Tompkins sold 35,331 shares of Aeluma stock in a transaction on Monday, October 13th. The shares were sold at an average price of $16.98, for a total transaction of $599,920.38. Following the completion of the sale, the insider directly owned 2,499,343 shares in the company, valued at $42,438,844.14. This represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Aeluma Price Performance

NASDAQ ALMU traded up $2.30 during trading on Tuesday, hitting $19.72. The stock had a trading volume of 649,954 shares, compared to its average volume of 482,700. The business's 50 day moving average is $18.42. Aeluma, Inc. has a twelve month low of $2.52 and a twelve month high of $25.88. The company has a market capitalization of $352.00 million and a P/E ratio of -82.17.

Aeluma (NASDAQ:ALMU - Get Free Report) last issued its quarterly earnings data on Thursday, November 9th. The company reported ($0.11) earnings per share for the quarter. Aeluma had a negative net margin of 64.79% and a negative return on equity of 40.79%.

Institutional Trading of Aeluma

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. bought a new stake in shares of Aeluma during the second quarter worth approximately $32,000. MASO CAPITAL PARTNERS Ltd purchased a new stake in Aeluma in the 2nd quarter valued at about $401,000. Bank of America Corp DE bought a new position in Aeluma in the 2nd quarter valued at $98,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in Aeluma in the 2nd quarter worth $86,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Aeluma during the second quarter valued at about $111,000.

Analysts Set New Price Targets

Several research analysts have recently commented on ALMU shares. Craig Hallum began coverage on Aeluma in a research report on Monday, July 14th. They issued a "buy" rating and a $26.00 target price for the company. Weiss Ratings restated a "sell (d-)" rating on shares of Aeluma in a report on Wednesday, October 8th. Finally, Benchmark reiterated a "buy" rating and set a $25.00 price target on shares of Aeluma in a report on Wednesday, September 24th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $25.50.

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.

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