Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells 36,855 Shares of Stock

Key Points

• Mark Tompkins, a major shareholder of Aeluma (NASDAQ:ALMU), sold 36,855 shares at an average price of $19.86, totaling approximately $731,940, which represents a 1.47% decrease in his ownership.
• Aeluma's stock saw a significant increase of 13.2%, reaching $19.72, with a market capitalization of $352 million and a recent twelve-month high of $25.88.
• Brokerage analysts have mixed views on Aeluma, with two buy ratings and one sell rating, and an average price target around $25.50.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) major shareholder Mark Tompkins sold 36,855 shares of the stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $19.86, for a total value of $731,940.30. Following the completion of the transaction, the insider directly owned 2,462,488 shares in the company, valued at $48,905,011.68. The trade was a 1.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

Aeluma Stock Up 13.2%

NASDAQ ALMU traded up $2.30 during trading hours on Tuesday, hitting $19.72. 649,954 shares of the company traded hands, compared to its average volume of 482,700. The stock has a 50-day simple moving average of $18.42. The stock has a market cap of $352.00 million and a PE ratio of -82.17. Aeluma, Inc. has a twelve month low of $2.52 and a twelve month high of $25.88.

Aeluma (NASDAQ:ALMU - Get Free Report) last released its quarterly earnings results on Thursday, November 9th. The company reported ($0.11) earnings per share (EPS) 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

Institutional investors and hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. acquired a new position in Aeluma in the 2nd quarter valued at about $32,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Aeluma in the second quarter valued at about $32,000. JNBA Financial Advisors purchased a new stake in shares of Aeluma in the second quarter valued at about $52,000. JPMorgan Chase & Co. acquired a new position in shares of Aeluma in the second quarter valued at approximately $74,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Aeluma during the second quarter worth approximately $86,000.

Analysts Set New Price Targets

Several brokerages have weighed in on ALMU. Benchmark reissued a "buy" rating and set a $25.00 price objective on shares of Aeluma in a report on Wednesday, September 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Aeluma in a report on Wednesday, October 8th. Finally, Craig Hallum started coverage on Aeluma in a research note on Monday, July 14th. They issued a "buy" rating and a $26.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Aeluma 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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