Insider Selling: Aeluma (NASDAQ:ALMU) CEO Sells 20,000 Shares of Stock

Aeluma, Inc. (NASDAQ:ALMU) CEO Jonathan Klamkin sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $13.10, for a total transaction of $262,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,409,398 shares in the company, valued at $18,463,113.80. This represents a 1.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Klamkin also recently made the following trade(s):

• On Wednesday, March 4th, Jonathan Klamkin sold 50,000 shares of Aeluma stock. The shares were sold at an average price of $18.05, for a total transaction of $902,500.00.

Aeluma Stock Performance

Aeluma stock remained flat at $13.44 during trading hours on Friday. 193,622 shares of the company’s stock traded hands, compared to its average volume of 585,758. The company has a market cap of $241.92 million and a price-to-earnings ratio of -95.99. The business’s 50-day simple moving average is $15.20 and its 200-day simple moving average is $16.25. Aeluma, Inc. has a 12 month low of $5.79 and a 12 month high of $25.88.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALMU. Benchmark reiterated a “buy” rating and issued a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. Williams Trading set a $25.00 price objective on Aeluma in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, January 21st. UBS Group reiterated a “buy” rating on shares of Aeluma in a report on Tuesday, March 3rd. Finally, Freedom Capital upgraded Aeluma to a “strong-buy” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $25.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ALMU. Geode Capital Management LLC bought a new position in shares of Aeluma during the 2nd quarter worth approximately $3,850,000. Cetera Investment Advisers acquired a new stake in Aeluma in the second quarter valued at approximately $613,000. JPMorgan Chase & Co. purchased a new position in Aeluma in the second quarter worth $74,000. Rhumbline Advisers purchased a new position in Aeluma in the second quarter worth $228,000. Finally, New York State Common Retirement Fund acquired a new position in shares of Aeluma during the second quarter worth $111,000.

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.