Aeluma (NASDAQ:ALMU) Major Shareholder Mark Tompkins Sells 31,147 Shares

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 31,147 shares of the business’s stock in a transaction dated Friday, October 3rd. The stock was sold at an average price of $17.57, for a total transaction of $547,252.79. Following the completion of the transaction, the insider directly owned 2,740,186 shares in the company, valued at $48,145,068.02. This trade represents a 1.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Aeluma Price Performance

NASDAQ ALMU opened at $18.47 on Tuesday. Aeluma, Inc. has a 52-week low of $2.52 and a 52-week high of $25.88. The stock’s 50-day moving average is $18.95. The stock has a market capitalization of $329.69 million and a P/E ratio of -76.96.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ALMU shares. Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a research note on Saturday, September 27th. Benchmark reissued a “buy” rating and issued a $25.00 target price on shares of Aeluma in a research report on Wednesday, September 24th. Finally, Craig Hallum initiated coverage on Aeluma in a research note on Monday, July 14th. They issued a “buy” rating and a $26.00 target price on the stock. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Aeluma presently has a consensus rating of “Hold” and an average price target of $25.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALMU. Geode Capital Management LLC purchased a new position in Aeluma in the 2nd quarter valued at approximately $3,850,000. Cetera Investment Advisers bought a new position in shares of Aeluma in the second quarter worth $613,000. Manchester Capital Management LLC purchased a new position in shares of Aeluma in the second quarter valued at $409,000. MASO CAPITAL PARTNERS Ltd bought a new stake in shares of Aeluma during the 2nd quarter valued at $401,000. Finally, Atria Wealth Solutions Inc. lifted its holdings in Aeluma by 3.1% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company’s stock worth $275,000 after purchasing an additional 500 shares in 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.