Aeluma, Inc. (NASDAQ:ALMU) Short Interest Update

Aeluma, Inc. (NASDAQ:ALMU) saw a significant growth in short interest in March. As of March 31st, there was short interest totaling 3,106,499 shares, a growth of 18.7% from the March 15th total of 2,617,374 shares. Based on an average daily volume of 562,753 shares, the days-to-cover ratio is currently 5.5 days. Approximately 20.2% of the company’s stock are short sold.

Aeluma Trading Down 7.1%

Shares of ALMU stock opened at $16.12 on Friday. The firm’s 50 day moving average is $14.76 and its 200 day moving average is $15.95. The stock has a market capitalization of $290.16 million and a P/E ratio of -115.13. Aeluma has a 12 month low of $6.48 and a 12 month high of $25.88.

Insider Activity

In related news, CEO Jonathan Klamkin sold 50,000 shares of Aeluma stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.05, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Mark N. Tompkins sold 45,000 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $18.82, for a total value of $846,900.00. Following the sale, the insider owned 1,949,988 shares of the company’s stock, valued at $36,698,774.16. This trade represents a 2.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 317,000 shares of company stock worth $5,436,095 over the last 90 days. 14.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Aeluma

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Aeluma by 98.1% in the third quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock valued at $7,067,000 after purchasing an additional 217,430 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Aeluma by 22.5% during the 4th quarter. Geode Capital Management LLC now owns 285,732 shares of the company’s stock worth $4,907,000 after purchasing an additional 52,565 shares in the last quarter. Apis Capital Advisors LLC lifted its holdings in Aeluma by 4.8% during the 3rd quarter. Apis Capital Advisors LLC now owns 253,545 shares of the company’s stock worth $4,082,000 after purchasing an additional 11,545 shares in the last quarter. State Street Corp boosted its stake in Aeluma by 34.0% in the 4th quarter. State Street Corp now owns 213,405 shares of the company’s stock worth $3,664,000 after purchasing an additional 54,184 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new position in Aeluma in the 3rd quarter worth about $3,398,000.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALMU. Benchmark reiterated a “buy” rating and issued a $25.00 target price on shares of Aeluma in a report on Tuesday, March 3rd. Freedom Capital raised shares of Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. UBS Group reiterated a “buy” rating on shares of Aeluma in a research note on Tuesday, March 3rd. Williams Trading set a $25.00 target price on shares of Aeluma in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.33.

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.