Mark Tompkins Sells 40,000 Shares of Aeluma (NASDAQ:ALMU) Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, October 17th. The shares were sold at an average price of $16.93, for a total value of $677,200.00. Following the transaction, the insider owned 2,357,488 shares of the company’s stock, valued at $39,912,271.84. This trade represents a 1.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Aeluma Stock Performance

Shares of NASDAQ ALMU opened at $15.23 on Thursday. Aeluma, Inc. has a fifty-two week low of $2.59 and a fifty-two week high of $25.88. The stock has a market capitalization of $271.86 million and a P/E ratio of -63.46. The business has a 50 day simple moving average of $18.06.

Aeluma (NASDAQ:ALMU) last announced its quarterly earnings data on Thursday, November 9th. The company reported ($0.11) EPS for the quarter. Aeluma had a negative net margin of 64.79% and a negative return on equity of 40.79%.

Wall Street Analyst Weigh In

Several research firms recently commented on ALMU. Craig Hallum assumed coverage on shares of Aeluma in a research note on Monday, July 14th. They issued a “buy” rating and a $26.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a report on Wednesday, October 8th. Finally, Benchmark reissued a “buy” rating and set a $25.00 price target on shares of Aeluma in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.50.

Institutional Investors Weigh In On Aeluma

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC purchased a new position in Aeluma in the second quarter valued at about $3,850,000. Cetera Investment Advisers purchased a new position in Aeluma in the second quarter worth $613,000. Manchester Capital Management LLC acquired a new stake in shares of Aeluma in the 2nd quarter worth $409,000. MASO CAPITAL PARTNERS Ltd purchased a new position in Aeluma during the 2nd quarter worth $401,000. Finally, Atria Wealth Solutions Inc. raised its stake in Aeluma by 3.1% in the second quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company’s stock valued at $275,000 after buying 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.