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

Key Points

• Mark Tompkins, a major shareholder of Aeluma, sold 40,000 shares at an average price of $16.93, totaling approximately $677,200, reducing his ownership by 1.67% to 2,357,488 shares.
• Aeluma's stock price fell to $16.18, with a market cap of $288.81 million and a 12-month price range between $2.59 and $25.88.
• Analysts have mixed opinions on Aeluma, with consensus ratings showing a "Hold" and an average target price of $25.50, indicating potential upward movement from the current share price.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) major shareholder Mark Tompkins sold 40,000 shares of the business's stock in a transaction dated Friday, October 17th. The stock was sold at an average price of $16.93, for a total value of $677,200.00. Following the sale, the insider owned 2,357,488 shares in the company, valued at approximately $39,912,271.84. This trade represents a 1.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

Aeluma Price Performance

Shares of NASDAQ:ALMU traded down $0.12 during midday trading on Tuesday, hitting $16.18. 316,929 shares of the stock were exchanged, compared to its average volume of 248,469. The firm has a market cap of $288.81 million and a PE ratio of -67.42. The business's 50-day simple moving average is $18.18. Aeluma, Inc. has a 12 month low of $2.59 and a 12 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 for the quarter. Aeluma had a negative return on equity of 40.79% and a negative net margin of 64.79%.

Hedge Funds Weigh In On Aeluma

A number of hedge funds and other institutional investors have recently made changes to their positions in ALMU. Osaic Holdings Inc. acquired a new position in Aeluma in the second quarter valued at approximately $32,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Aeluma during the second quarter worth approximately $32,000. JNBA Financial Advisors acquired a new position in shares of Aeluma during the second quarter worth approximately $52,000. JPMorgan Chase & Co. acquired a new position in shares of Aeluma during the second quarter worth approximately $74,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Aeluma during the second quarter worth approximately $86,000.

Analyst Ratings Changes

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