Mark Tompkins Sells 50,500 Shares of Aeluma (NASDAQ:ALMU) Stock

Key Points

• Mark Tompkins, a major shareholder of Aeluma, Inc. (NASDAQ:ALMU), sold 50,500 shares at an average price of $16.87, totaling approximately $851,935, reducing his position by 1.77%.
• Aeluma's shares experienced a 6.7% increase on the trading day following the sale, with the stock currently valued at $17.18.
• Multiple institutional investors have recently acquired stakes in Aeluma, highlighting growing interest, with valuations of these new positions ranging from $228,000 to $3.85 million.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) major shareholder Mark Tompkins sold 50,500 shares of the business's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $16.87, for a total transaction of $851,935.00. Following the completion of the transaction, the insider owned 2,806,333 shares of the company's stock, valued at approximately $47,342,837.71. This trade represents a 1.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Aeluma Trading Up 6.7%

Shares of NASDAQ ALMU opened at $17.18 on Thursday. The business's 50-day moving average is $19.27. The stock has a market cap of $306.66 million and a P/E ratio of -71.58. Aeluma, Inc. has a 1-year low of $2.52 and a 1-year high of $25.88.

Hedge Funds Weigh In On Aeluma

A number of institutional investors have recently made changes to their positions in ALMU. Geode Capital Management LLC purchased a new position in shares of Aeluma during the second quarter valued at approximately $3,850,000. Cetera Investment Advisers purchased a new position in shares of Aeluma during the 2nd quarter worth $613,000. Manchester Capital Management LLC purchased a new stake in shares of Aeluma in the second quarter valued at $409,000. MASO CAPITAL PARTNERS Ltd acquired a new position in Aeluma in the second quarter valued at $401,000. Finally, Rhumbline Advisers purchased a new position in Aeluma during the second quarter worth about $228,000.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALMU. Benchmark reiterated a "buy" rating and issued a $25.00 price objective on shares of Aeluma in a research note on Wednesday, September 24th. Craig Hallum began coverage on shares of Aeluma in a research note on Monday, July 14th. They issued a "buy" rating and a $26.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus 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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