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

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 25,000 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $17.57, for a total transaction of $439,250.00. Following the completion of the sale, the insider directly owned 2,890,833 shares in the company, valued at approximately $50,791,935.81. The trade was a 0.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Aeluma Trading Up 6.9%

Shares of NASDAQ:ALMU opened at $18.01 on Friday. The company’s 50 day moving average price is $19.07. The stock has a market capitalization of $321.48 million and a PE ratio of -75.04. Aeluma, Inc. has a 12 month low of $2.52 and a 12 month high of $25.88.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Craig Hallum started coverage on Aeluma in a research note on Monday, July 14th. They set a “buy” rating and a $26.00 price objective for the company. Benchmark reaffirmed a “buy” rating and issued a $25.00 price target on shares of Aeluma in a report on Wednesday, September 24th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research report on Saturday, September 27th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC bought a new stake in Aeluma in the 2nd quarter worth $3,850,000. Cetera Investment Advisers purchased a new stake in shares of Aeluma during the second quarter worth about $613,000. Manchester Capital Management LLC purchased a new stake in shares of Aeluma during the second quarter worth about $409,000. MASO CAPITAL PARTNERS Ltd bought a new stake in shares of Aeluma in the second quarter worth about $401,000. Finally, Atria Wealth Solutions Inc. increased its holdings in Aeluma by 3.1% during 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 period.

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.