Aeluma (NASDAQ:ALMU) Shares Up 8.4% – Still a Buy?

Aeluma, Inc. (NASDAQ:ALMU)’s stock price was up 8.4% during mid-day trading on Monday . The company traded as high as $25.08 and last traded at $24.49. Approximately 872,775 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 1,158,800 shares. The stock had previously closed at $22.59.

Analyst Ratings Changes

A number of research analysts have weighed in on ALMU shares. UBS Group reissued a “buy” rating on shares of Aeluma in a research note on Tuesday, March 3rd. Benchmark reissued a “buy” rating and set a $25.00 price target on shares of Aeluma in a research note on Tuesday, March 3rd. Williams Trading set a $25.00 price target on Aeluma in a research note on Tuesday, March 3rd. Freedom Capital upgraded Aeluma to a “strong-buy” rating in a report on Tuesday, March 31st. Finally, Wall Street Zen downgraded Aeluma from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.33.

Aeluma Trading Up 8.4%

The stock has a 50-day simple moving average of $19.95 and a 200-day simple moving average of $17.60. The company has a market capitalization of $448.29 million, a price-to-earnings ratio of -69.97 and a beta of 3.94.

Aeluma (NASDAQ:ALMU) last issued its quarterly earnings results on Wednesday, May 13th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.22 million for the quarter, compared to analysts’ expectations of $1.37 million.

Insider Activity

In other news, CEO Jonathan Klamkin sold 20,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $24.96, for a total transaction of $499,200.00. Following the transaction, the chief executive officer owned 2,403 shares of the company’s stock, valued at approximately $59,978.88. This trade represents a 89.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 dated Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total transaction of $249,875.00. Following the completion of the transaction, the director directly owned 382,709 shares in the company, valued at $7,650,352.91. This represents a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,500 shares of company stock worth $1,011,075 in the last ninety days. Corporate insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On Aeluma

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Aeluma during the fourth quarter valued at approximately $27,000. Quantbot Technologies LP acquired a new position in shares of Aeluma during the third quarter valued at approximately $29,000. BNP Paribas Financial Markets increased its stake in shares of Aeluma by 79.2% during the third quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock valued at $31,000 after acquiring an additional 855 shares during the period. Osaic Holdings Inc. acquired a new position in shares of Aeluma during the second quarter valued at approximately $32,000. Finally, State of Wyoming acquired a new position in shares of Aeluma during the fourth quarter valued at approximately $35,000.

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.