Aeluma (NASDAQ:ALMU) CEO Sells $1,335,000.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) CEO Jonathan Klamkin sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $13.35, for a total value of $1,335,000.00. Following the completion of the transaction, the chief executive officer owned 1,226,995 shares of the company’s stock, valued at $16,380,383.25. This represents a 7.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Aeluma Stock Performance

NASDAQ ALMU opened at $13.29 on Friday. The business has a 50 day simple moving average of $14.77 and a 200 day simple moving average of $17.77. Aeluma, Inc. has a 52-week low of $10.24 and a 52-week high of $31.79. The stock has a market cap of $256.10 million, a price-to-earnings ratio of -25.56 and a beta of 4.07.

Aeluma (NASDAQ:ALMU) last announced its quarterly earnings results on Wednesday, September 16th. The company reported ($0.15) earnings per share for the quarter. The company had revenue of $0.58 million during the quarter. Aeluma had a negative net margin of 205.31% and a negative return on equity of 18.14%.

Institutional Trading of Aeluma

Institutional investors and hedge funds have recently bought and sold shares of the stock. Squarepoint Ops LLC acquired a new position in shares of Aeluma during the 2nd quarter worth approximately $269,000. Fortitude Advisory Group L.L.C. raised its stake in shares of Aeluma by 6.0% during the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 37,567 shares of the company’s stock worth $829,000 after purchasing an additional 2,132 shares in the last quarter. JNBA Financial Advisors boosted its holdings in shares of Aeluma by 107.2% in the 2nd quarter. JNBA Financial Advisors now owns 3,340 shares of the company’s stock valued at $74,000 after buying an additional 1,728 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Aeluma in the 2nd quarter valued at approximately $1,135,000. Finally, Bank of America Corp DE bought a new position in shares of Aeluma in the second quarter valued at $509,000.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ALMU shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research report on Friday, July 17th. Freedom Broker lowered their target price on Aeluma from $30.00 to $25.00 and set a “buy” rating for the company in a report on Thursday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.00.

Aeluma Company Profile

Aeluma, Inc is a semiconductor company that develops and manufactures high-performance components for communications, sensing, computing and other advanced technology applications. The company’s technology is designed to support the production of semiconductor devices on large-area and nontraditional substrates, with the goal of improving performance, scalability and integration.

Aeluma’s products and development efforts include photonic and optoelectronic components such as photodetectors and related devices used in optical communications, data centers, 3D sensing, artificial intelligence, aerospace and defense, automotive systems, and consumer electronics.