Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells $439,250.00 in Stock

Key Points

• Mark Tompkins, major shareholder of Aeluma (NASDAQ:ALMU), sold 25,000 shares for a total of $439,250, reducing his overall stake by 0.86%.
• Aeluma's stock is currently trading at approximately $17.18, with a 12-month range of $2.52 to $25.88, and a market capitalization of $306.66 million.
• Analysts maintain a positive outlook on Aeluma, with an average rating of "Buy" and a target price of $25.50 according to recent assessments.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) major shareholder Mark Tompkins sold 25,000 shares of Aeluma stock in a transaction on Monday, September 29th. The shares were sold at an average price of $17.57, for a total value of $439,250.00. Following the transaction, the insider owned 2,890,833 shares in the company, valued at $50,791,935.81. This represents a 0.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Aeluma Price Performance

NASDAQ ALMU opened at $17.18 on Thursday. The company has a 50 day simple moving average of $19.27. Aeluma, Inc. has a 12-month low of $2.52 and a 12-month high of $25.88. The firm has a market capitalization of $306.66 million and a PE ratio of -71.58.

Analyst Ratings Changes

A number of research analysts have commented on ALMU shares. Benchmark reiterated a "buy" rating and issued a $25.00 price objective on shares of Aeluma in a research report on Wednesday, September 24th. Craig Hallum started coverage on shares of Aeluma in a research report on Monday, July 14th. They set a "buy" rating and a $26.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $25.50.

Institutional Trading of Aeluma

Several institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC bought a new position in shares of Aeluma in the second quarter worth about $3,850,000. Cetera Investment Advisers acquired a new stake in Aeluma in the second quarter valued at approximately $613,000. Manchester Capital Management LLC acquired a new stake in Aeluma in the second quarter valued at approximately $409,000. MASO CAPITAL PARTNERS Ltd acquired a new stake in shares of Aeluma during the 2nd quarter valued at $401,000. Finally, Rhumbline Advisers acquired a new stake in shares of Aeluma during the 2nd quarter valued at $228,000.

About Aeluma

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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