Mark Tompkins Sells 31,147 Shares of Aeluma (NASDAQ:ALMU) Stock

Key Points

• Mark Tompkins, a major shareholder of Aeluma (NASDAQ:ALMU), sold 31,147 shares at an average price of $17.57, resulting in a total transaction of $547,252.79.
• Aeluma's stock saw an increase of 2.6% to $18.47 in trading, with a market capitalization of approximately $329.69 million.
• Analysts have mixed ratings for Aeluma, with a consensus rating of "Hold" and a target price of $25.50, amid reports of new institutional investments in the company.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) major shareholder Mark Tompkins sold 31,147 shares of Aeluma stock in a transaction on Friday, October 3rd. The shares were sold at an average price of $17.57, for a total transaction of $547,252.79. Following the completion of the transaction, the insider owned 2,740,186 shares in the company, valued at approximately $48,145,068.02. This trade represents a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Aeluma Stock Up 2.6%

ALMU traded up $0.46 during trading on Monday, hitting $18.47. The stock had a trading volume of 411,382 shares, compared to its average volume of 525,480. The company has a market capitalization of $329.69 million and a price-to-earnings ratio of -76.96. Aeluma, Inc. has a twelve month low of $2.52 and a twelve month high of $25.88. The business has a 50-day moving average of $18.95.

Wall Street Analyst Weigh In

ALMU has been the subject of several analyst reports. Benchmark reissued a "buy" rating and set a $25.00 price target on shares of Aeluma in a report on Wednesday, September 24th. Weiss Ratings reissued a "sell (d-)" rating on shares of Aeluma in a research note on Saturday, September 27th. Finally, Craig Hallum assumed coverage on Aeluma in a report on Monday, July 14th. They issued a "buy" rating and a $26.00 price target for the company. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Aeluma has a consensus rating of "Hold" and a consensus target price of $25.50.

Hedge Funds Weigh In On Aeluma

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC purchased a new position in Aeluma during the second quarter worth about $3,850,000. Cetera Investment Advisers purchased a new position in shares of Aeluma during the 2nd quarter worth about $613,000. Manchester Capital Management LLC purchased a new position in shares of Aeluma during the 2nd quarter worth about $409,000. MASO CAPITAL PARTNERS Ltd acquired a new stake in shares of Aeluma in the second quarter worth approximately $401,000. Finally, Atria Wealth Solutions Inc. boosted its holdings in shares of Aeluma by 3.1% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company's stock valued at $275,000 after purchasing an additional 500 shares during the last quarter.

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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