Mark Tompkins Sells 63,604 Shares of Aeluma (NASDAQ:ALMU) Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 63,604 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $18.70, for a total value of $1,189,394.80. Following the completion of the sale, the insider owned 2,676,582 shares in the company, valued at $50,052,083.40. This represents a 2.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Aeluma Price Performance

Shares of NASDAQ:ALMU opened at $17.55 on Wednesday. Aeluma, Inc. has a 52-week low of $2.52 and a 52-week high of $25.88. The firm has a fifty day moving average of $18.86. The stock has a market capitalization of $313.27 million and a P/E ratio of -73.13.

Institutional Investors Weigh In On Aeluma

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. acquired a new stake in Aeluma during the second quarter worth about $32,000. MASO CAPITAL PARTNERS Ltd acquired a new stake in shares of Aeluma in the second quarter valued at about $401,000. Bank of America Corp DE acquired a new stake in shares of Aeluma in the second quarter valued at about $98,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Aeluma in the second quarter valued at about $86,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Aeluma in the second quarter valued at about $111,000.

Analyst Ratings Changes

Several research firms recently weighed in on ALMU. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research report on Saturday, September 27th. Craig Hallum began coverage on Aeluma in a research report on Monday, July 14th. They set a “buy” rating and a $26.00 target price on the stock. Finally, Benchmark reiterated a “buy” rating and set a $25.00 target price on shares of Aeluma in a research report on Wednesday, September 24th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.50.

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.