Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells 36,908 Shares of Stock

Key Points

• Mark Tompkins, a major shareholder of Aeluma, Inc. (NASDAQ:ALMU), sold 36,908 shares at an average price of $16.56, resulting in a total transaction of $611,196.48.
• Aeluma's stock decreased by 7.6% to $16.50, with a market cap of $294.53 million and a P/E ratio of -68.75.
• Analysts have mixed views on Aeluma, with a consensus price target of $25.50, alongside one buy rating and one sell rating from different research entities.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) major shareholder Mark Tompkins sold 36,908 shares of Aeluma stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $16.56, for a total transaction of $611,196.48. Following the completion of the transaction, the insider directly owned 2,569,674 shares in the company, valued at approximately $42,553,801.44. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Aeluma Stock Down 7.6%

Shares of Aeluma stock traded down $1.36 during trading on Thursday, hitting $16.50. The stock had a trading volume of 429,639 shares, compared to its average volume of 475,470. The stock's 50 day simple moving average is $18.62. The stock has a market cap of $294.53 million and a P/E ratio of -68.75. Aeluma, Inc. has a 1 year low of $2.52 and a 1 year high of $25.88.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Benchmark reaffirmed a "buy" rating and set a $25.00 price objective on shares of Aeluma in a research report on Wednesday, September 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Aeluma in a research report on Wednesday. Finally, Craig Hallum assumed coverage on shares of Aeluma in a research report on Monday, July 14th. They set a "buy" rating and a $26.00 price objective on the stock. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Aeluma has an average rating of "Hold" and a consensus price target of $25.50.

Institutional Trading of Aeluma

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC bought a new stake in Aeluma in the second quarter worth approximately $3,850,000. Cetera Investment Advisers bought a new stake in shares of Aeluma during the 2nd quarter worth $613,000. Rhumbline Advisers bought a new stake in shares of Aeluma during the 2nd quarter worth $228,000. New York State Common Retirement Fund bought a new stake in shares of Aeluma during the 2nd quarter worth $111,000. Finally, Bank of America Corp DE bought a new stake in shares of Aeluma during the 2nd quarter worth $98,000.

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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