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

Aeluma, Inc. (NASDAQ:ALMU) Director Steven Denbaars sold 12,500 shares of the 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 completion of the transaction, the director owned 357,709 shares in the company, valued at approximately $4,950,692.56. This trade represents a 3.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Aeluma Trading Down 5.6%

ALMU opened at $13.14 on Friday. Aeluma, Inc. has a 12-month low of $10.24 and a 12-month high of $31.79. The firm has a 50 day moving average of $17.11 and a two-hundred day moving average of $18.22. The firm has a market capitalization of $240.59 million, a PE ratio of -37.54 and a beta of 4.18.

Institutional Investors Weigh In On Aeluma

Several hedge funds have recently bought and sold shares of ALMU. Legal & General Group Plc purchased a new position in shares of Aeluma during the 2nd quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in Aeluma during the fourth quarter worth $27,000. Quantbot Technologies LP purchased a new stake in Aeluma during the third quarter worth $29,000. BNP Paribas Financial Markets grew its position in 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 buying an additional 855 shares during the period. Finally, Osaic Holdings Inc. acquired a new stake in Aeluma during the second quarter valued at $32,000.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ALMU. Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a research report on Friday, July 17th. Wall Street Zen downgraded Aeluma from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.00.

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.