Aeluma (NASDAQ:ALMU) Major Shareholder Mark Tompkins Sells 37,500 Shares of Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 37,500 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $16.39, for a total value of $614,625.00. Following the completion of the transaction, the insider owned 2,319,988 shares of the company’s stock, valued at $38,024,603.32. The trade was a 1.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Aeluma Stock Down 0.7%

Shares of NASDAQ ALMU opened at $16.18 on Wednesday. The company’s 50 day moving average is $18.18. The firm has a market capitalization of $288.81 million and a PE ratio of -67.42. Aeluma, Inc. has a 52 week low of $2.59 and a 52 week high of $25.88.

Aeluma (NASDAQ:ALMU) last posted its quarterly earnings results on Thursday, November 9th. The company reported ($0.11) earnings per share for the quarter. Aeluma had a negative return on equity of 40.79% and a negative net margin of 64.79%.

Wall Street Analyst Weigh In

ALMU has been the topic of several analyst reports. Craig Hallum assumed coverage on shares of Aeluma in a research report on Monday, July 14th. They set a “buy” rating and a $26.00 price target on the stock. Benchmark restated a “buy” rating and set a $25.00 price objective on shares of Aeluma in a research note on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $25.50.

Institutional Investors Weigh In On Aeluma

Several hedge funds have recently added to or reduced their stakes in ALMU. JNBA Financial Advisors acquired a new position in shares of Aeluma in the second quarter valued at $52,000. Atria Wealth Solutions Inc. lifted its stake in shares of Aeluma by 3.1% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 16,771 shares of the company’s stock worth $275,000 after buying an additional 500 shares during the last quarter. Geode Capital Management LLC bought a new stake in shares of Aeluma during the 2nd quarter worth about $3,850,000. Police & Firemen s Retirement System of New Jersey acquired a new position in Aeluma in the 2nd quarter valued at about $32,000. Finally, Cetera Investment Advisers acquired a new position in Aeluma in the 2nd quarter valued at about $613,000.

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.