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

Aeluma, Inc. (NASDAQ:ALMU) Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total transaction of $173,000.00. Following the transaction, the director directly owned 357,709 shares in the company, valued at approximately $4,950,692.56. This represents a 3.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Aeluma Stock Down 5.6%

Shares of NASDAQ ALMU opened at $13.14 on Friday. The company has a market capitalization of $240.59 million, a PE ratio of -37.54 and a beta of 4.18. The stock’s 50 day moving average price is $17.11 and its 200-day moving average price is $18.22. Aeluma, Inc. has a twelve month low of $10.24 and a twelve month high of $31.79.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a research note on Friday, July 17th. Wall Street Zen cut Aeluma from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given 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 “Moderate Buy” and a consensus price target of $25.00.

Institutional Investors Weigh In On Aeluma

Several large investors have recently modified their holdings of the stock. California State Teachers Retirement System lifted its stake in Aeluma by 456.7% in the second quarter. California State Teachers Retirement System now owns 3,930 shares of the company’s stock valued at $87,000 after purchasing an additional 3,224 shares during the last quarter. Fortitude Advisory Group L.L.C. grew its holdings in Aeluma by 6.0% during the second quarter. Fortitude Advisory Group L.L.C. now owns 37,567 shares of the company’s stock valued at $829,000 after purchasing an additional 2,132 shares during the period. JNBA Financial Advisors increased its position in Aeluma by 107.2% in the second quarter. JNBA Financial Advisors now owns 3,340 shares of the company’s stock worth $74,000 after buying an additional 1,728 shares during the last quarter. Wedbush Securities Inc. purchased a new stake in Aeluma in the second quarter worth $1,135,000. Finally, Bank of America Corp DE bought a new stake in shares of Aeluma in the second quarter valued at $509,000.

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.