Steven Denbaars Sells 12,500 Shares of Aeluma (NASDAQ:ALMU) Stock

Aeluma, Inc. (NASDAQ:ALMU) 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 trade represents a 3.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Steven Denbaars also recently made the following trade(s):

• On Wednesday, February 25th, Steven Denbaars sold 12,500 shares of Aeluma stock. The shares were sold at an average price of $17.58, for a total transaction of $219,750.00.

Aeluma Stock Up 11.3%

Shares of NASDAQ ALMU traded up $2.36 during midday trading on Thursday, reaching $23.31. The company’s stock had a trading volume of 1,696,501 shares, compared to its average volume of 2,107,797. Aeluma, Inc. has a fifty-two week low of $10.20 and a fifty-two week high of $31.79. The business’s 50 day moving average price is $17.72 and its two-hundred day moving average price is $16.85.

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

Institutional Investors Weigh In On Aeluma

A number of institutional investors have recently added to or reduced their stakes in ALMU. Geode Capital Management LLC bought a new stake in Aeluma in the 2nd quarter worth about $3,850,000. Vanguard Group Inc. grew its position in shares of Aeluma by 98.1% during the 3rd quarter. Vanguard Group Inc. now owns 438,966 shares of the company’s stock valued at $7,067,000 after acquiring an additional 217,430 shares during the period. Polar Asset Management Partners Inc. bought a new position in shares of Aeluma during the 3rd quarter valued at approximately $3,398,000. Millennium Management LLC bought a new position in shares of Aeluma during the 3rd quarter valued at approximately $3,392,000. Finally, State Street Corp grew its position in shares of Aeluma by 34.0% during the 4th quarter. State Street Corp now owns 213,405 shares of the company’s stock valued at $3,664,000 after acquiring an additional 54,184 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ALMU. UBS Group reissued a “buy” rating on shares of Aeluma in a research note on Tuesday, March 3rd. Benchmark reissued a “buy” rating and issued a $25.00 price objective 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 note on Tuesday, March 3rd. Wall Street Zen cut shares of Aeluma from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Aeluma currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.33.

Aeluma Company Profile

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.