Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells 40,000 Shares of Stock

Key Points

• Major shareholder Mark Tompkins of Aeluma, Inc. sold 40,000 shares at an average price of $20.59, totaling $823,600, resulting in a 1.62% decrease in his ownership position.
• Aeluma's stock price dropped to $16.70 following the transaction, with a market cap of $298.10 million and a price-to-earnings ratio of -69.58.
• Analysts have mixed ratings on Aeluma, with a consensus rating of "Hold" and a price target of $25.50, while Weiss Ratings maintains a "sell (d-)" rating on the shares.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) major shareholder Mark Tompkins sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $20.59, for a total value of $823,600.00. Following the transaction, the insider directly owned 2,422,488 shares of the company's stock, valued at approximately $49,879,027.92. This trade represents a 1.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Aeluma Price Performance

Shares of ALMU traded down $2.03 during trading hours on Friday, hitting $16.70. The stock had a trading volume of 661,347 shares, compared to its average volume of 470,653. The company has a market cap of $298.10 million and a price-to-earnings ratio of -69.58. The firm has a fifty day moving average price of $18.34. Aeluma, Inc. has a 12 month low of $2.52 and a 12 month high of $25.88.

Aeluma (NASDAQ:ALMU - Get Free Report) last issued its earnings results on Thursday, November 9th. The company reported ($0.11) earnings per share (EPS) 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 analysts have recently commented on ALMU shares. Weiss Ratings restated a "sell (d-)" rating on shares of Aeluma in a research note on Wednesday, October 8th. 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 target on the stock. Finally, Benchmark reaffirmed a "buy" rating and set a $25.00 price target on shares of Aeluma in a research report on Wednesday, September 24th. Two research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Aeluma has a consensus rating of "Hold" and a consensus price target of $25.50.

Institutional Trading of Aeluma

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

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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