Benchmark Reaffirms “Buy” Rating for Aeluma (NASDAQ:ALMU)

Aeluma (NASDAQ:ALMU)‘s stock had its “buy” rating reaffirmed by equities research analysts at Benchmark in a note issued to investors on Monday,Benzinga reports. They currently have a $25.00 target price on the stock. Benchmark’s price target would suggest a potential upside of 38.27% from the company’s previous close.

Several other equities analysts have also commented on ALMU. Wall Street Zen lowered shares of Aeluma from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Aeluma presently has an average rating of “Hold” and a consensus price target of $25.50.

Aeluma Stock Up 12.4%

Shares of NASDAQ:ALMU opened at $18.08 on Monday. The business’s 50-day simple moving average is $15.13. The firm has a market cap of $322.91 million and a P/E ratio of -66.96. Aeluma has a 12-month low of $5.69 and a 12-month high of $25.88.

Aeluma (NASDAQ:ALMU) last posted its earnings results on Wednesday, November 12th. The company reported ($0.03) EPS for the quarter. The company had revenue of $1.39 million during the quarter. Aeluma had a negative net margin of 67.97% and a negative return on equity of 18.15%.

Insiders Place Their Bets

In other Aeluma news, major shareholder Mark N. Tompkins sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $14.83, for a total value of $519,050.00. Following the completion of the transaction, the insider owned 2,084,988 shares of the company’s stock, valued at $30,920,372.04. This trade represents a 1.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 740,425 shares of company stock worth $12,691,525. 14.70% of the stock is owned by corporate insiders.

Institutional Trading of Aeluma

Large investors have recently modified their holdings of the stock. FNY Investment Advisers LLC boosted its holdings in Aeluma by 242.9% in the third quarter. FNY Investment Advisers LLC now owns 2,935 shares of the company’s stock valued at $47,000 after purchasing an additional 2,079 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in Aeluma during the 3rd quarter worth about $3,398,000. Sender Co & Partners Inc. acquired a new stake in Aeluma in the 3rd quarter valued at about $299,000. Millennium Management LLC purchased a new position in shares of Aeluma in the 3rd quarter valued at about $3,392,000. Finally, Focus Partners Wealth purchased a new position in shares of Aeluma in the 3rd quarter valued at about $73,000.

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.