Short Interest in Aeluma, Inc. (NASDAQ:ALMU) Rises By 18.6%

Key Points

• Short interest rose 18.6% in April to 3,683,558 shares, equal to 24.0% of shares sold short and a days-to-cover ratio of 1.6 (average volume 2,352,777).
• Significant insider selling occurred recently: major shareholder Mark N. Tompkins sold 37,500 shares and CEO Jonathan Klamkin sold 50,000 shares, with insiders offloading 179,500 shares in the last 90 days and owning 14.70% of the stock.
• Aeluma trades around $19.17 with a market cap of about $345.1M and a negative PE; analysts have a consensus rating of Moderate Buy and a consensus target price of $25.33.

Aeluma, Inc. (NASDAQ:ALMU - Get Free Report) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 3,683,558 shares, a growth of 18.6% from the March 31st total of 3,106,499 shares. Currently, 24.0% of the shares of the company are sold short. Based on an average trading volume of 2,352,777 shares, the days-to-cover ratio is presently 1.6 days.

Aeluma Stock Up 1.4%

ALMU stock opened at $19.17 on Thursday. The firm has a market capitalization of $345.12 million and a PE ratio of -136.92. Aeluma has a twelve month low of $9.64 and a twelve month high of $25.88. The stock has a 50-day simple moving average of $15.29 and a two-hundred day simple moving average of $16.03.

Insider Transactions at Aeluma

In other news, major shareholder Mark N. Tompkins sold 37,500 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $15.74, for a total transaction of $590,250.00. Following the completion of the transaction, the insider owned 1,824,988 shares in the company, valued at approximately $28,725,311.12. This represents a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jonathan Klamkin sold 50,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $18.05, for a total value of $902,500.00. Following the transaction, the chief executive officer owned 1,429,398 shares of the company's stock, valued at $25,800,633.90. The trade was a 3.38% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 179,500 shares of company stock worth $2,879,745. 14.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd purchased a new position in Aeluma during the 4th quarter valued at about $27,000. Quantbot Technologies LP purchased a new position in Aeluma during the 3rd quarter valued at about $29,000. BNP Paribas Financial Markets grew its holdings in Aeluma by 79.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company's stock valued at $31,000 after buying an additional 855 shares in the last quarter. Osaic Holdings Inc. purchased a new position in Aeluma during the 2nd quarter valued at about $32,000. Finally, State of Wyoming purchased a new position in Aeluma during the 4th quarter valued at about $35,000.

Analyst Ratings Changes

Several research analysts have recently weighed in on ALMU shares. Williams Trading set a $25.00 price target on Aeluma in a research note on Tuesday, March 3rd. UBS Group reiterated a "buy" rating on shares of Aeluma in a research note on Tuesday, March 3rd. Benchmark reiterated a "buy" rating and set a $25.00 price target on shares of Aeluma in a research note on Tuesday, March 3rd. Freedom Capital upgraded Aeluma to a "strong-buy" rating in a research note on Tuesday, March 31st. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Aeluma in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $25.33.

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. Aeluma, Inc was formerly known as Parc Investments, Inc and changed its name to Aeluma, Inc June 2021.

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