Aeluma, Inc. (NASDAQ:ALMU) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Aeluma, Inc. (NASDAQ:ALMU) has been given a consensus rating of “Moderate Buy” by the five brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $25.3333.

A number of brokerages have recently issued reports on ALMU. Wall Street Zen downgraded shares of Aeluma from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Williams Trading set a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a report on Monday, April 20th. UBS Group restated a “buy” rating on shares of Aeluma in a report on Tuesday, March 3rd. Finally, Benchmark restated a “buy” rating and set a $25.00 price target on shares of Aeluma in a report on Tuesday, March 3rd.

Insider Buying and Selling

In other news, CEO Jonathan Klamkin sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $24.96, for a total transaction of $499,200.00. Following the completion of the sale, the chief executive officer owned 2,403 shares in the company, valued at $59,978.88. This trade represents a 89.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total transaction of $249,875.00. Following the sale, the director owned 382,709 shares of the company’s stock, valued at $7,650,352.91. This represents a 3.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,500 shares of company stock valued at $1,011,075 in the last 90 days. Insiders own 14.70% of the company’s stock.

Institutional Trading of Aeluma

Several institutional investors have recently added to or reduced their stakes in ALMU. Geode Capital Management LLC acquired a new stake in Aeluma in the 2nd quarter valued at approximately $3,850,000. Cetera Investment Advisers acquired a new stake in Aeluma in the 2nd quarter valued at approximately $613,000. JPMorgan Chase & Co. acquired a new stake in Aeluma in the 2nd quarter valued at approximately $74,000. Rhumbline Advisers acquired a new stake in Aeluma in the 2nd quarter valued at approximately $228,000. Finally, New York State Common Retirement Fund acquired a new stake in Aeluma in the 2nd quarter valued at approximately $111,000.

Aeluma Trading Down 1.1%

ALMU stock opened at $24.93 on Tuesday. The company has a market cap of $456.47 million, a price-to-earnings ratio of -71.23 and a beta of 3.97. Aeluma has a 12 month low of $10.24 and a 12 month high of $31.79. The firm has a 50-day moving average of $21.29 and a two-hundred day moving average of $18.07.

Aeluma (NASDAQ:ALMU) last released its quarterly earnings data on Wednesday, May 13th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The company had revenue of $1.22 million during the quarter, compared to the consensus estimate of $1.37 million. Aeluma had a negative net margin of 115.57% and a negative return on equity of 12.03%.

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.