Aeluma (NASDAQ:ALMU) Major Shareholder Mark Tompkins Sells 35,000 Shares of Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $14.83, for a total value of $519,050.00. Following the completion of the sale, the insider directly owned 2,084,988 shares of the company’s stock, valued at approximately $30,920,372.04. This represents a 1.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 Stock Up 2.6%

NASDAQ:ALMU traded up $0.38 during midday trading on Monday, reaching $14.88. 293,253 shares of the stock traded hands, compared to its average volume of 311,207. Aeluma, Inc. has a 12 month low of $5.69 and a 12 month high of $25.88. The business has a fifty day moving average of $15.36.

Aeluma (NASDAQ:ALMU) last issued its quarterly earnings results on Wednesday, November 12th. The company reported ($0.03) earnings per share (EPS) for the quarter. The business had revenue of $1.39 million for the quarter. Aeluma had a negative net margin of 67.97% and a negative return on equity of 18.15%.

Wall Street Analysts Forecast Growth

ALMU has been the subject of several research reports. Wall Street Zen cut Aeluma from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Benchmark reaffirmed a “buy” rating and set a $25.00 target price 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 Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $25.50.

Institutional Trading of Aeluma

Several institutional investors and hedge funds have recently bought and sold shares of ALMU. Vanguard Group Inc. lifted its holdings in shares of Aeluma by 98.1% in the 3rd quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock valued at $7,067,000 after buying an additional 217,430 shares during the period. Apis Capital Advisors LLC grew its position in shares of Aeluma by 4.8% in the third quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company’s stock valued at $4,082,000 after purchasing an additional 11,545 shares during the last quarter. Geode Capital Management LLC purchased a new position in Aeluma during the second quarter worth $3,850,000. Polar Asset Management Partners Inc. acquired a new position in Aeluma in the 3rd quarter valued at about $3,398,000. Finally, Millennium Management LLC purchased a new position in shares of Aeluma during the third quarter valued at approximately $3,392,000.

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