Aeluma, Inc. (NASDAQ:ALMU) Sees Significant Drop in Short Interest

Aeluma, Inc. (NASDAQ:ALMU) was the recipient of a large drop in short interest in the month of January. As of January 15th, there was short interest totaling 1,520,223 shares, a drop of 12.3% from the December 31st total of 1,733,778 shares. Based on an average daily volume of 433,461 shares, the days-to-cover ratio is currently 3.5 days. Approximately 10.0% of the company’s stock are short sold. Approximately 10.0% of the company’s stock are short sold. Based on an average daily volume of 433,461 shares, the days-to-cover ratio is currently 3.5 days.

Aeluma Trading Up 0.4%

NASDAQ ALMU opened at $15.85 on Tuesday. The firm has a market capitalization of $283.05 million and a P/E ratio of -58.70. The firm’s fifty day moving average price is $17.34 and its two-hundred day moving average price is $17.62. Aeluma has a 1 year low of $5.69 and a 1 year high of $25.88.

Aeluma (NASDAQ:ALMU) last announced its quarterly earnings data on Wednesday, November 12th. The company reported ($0.03) EPS for the quarter. The firm had revenue of $1.39 million during the quarter. Aeluma had a negative net margin of 67.97% and a negative return on equity of 18.15%.

Insider Activity at Aeluma

In other news, major shareholder Mark N. Tompkins sold 37,500 shares of the company’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $15.74, for a total transaction of $590,250.00. Following the completion of the transaction, the insider directly owned 1,824,988 shares of the company’s stock, valued at $28,725,311.12. This represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 450,000 shares of company stock valued at $7,526,250 in the last 90 days. Insiders own 14.70% of the company’s stock.

Institutional Trading of Aeluma

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ALMU. Benchmark reaffirmed a “buy” rating and set a $25.00 price target on shares of Aeluma in a research report on Monday, December 29th. Wall Street Zen lowered shares of Aeluma from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Aeluma in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Aeluma currently has an average rating of “Hold” and an average price target of $25.50.

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.