Aeluma (NASDAQ:ALMU) Stock Price Up 1.5% – Should You Buy?

Aeluma, Inc. (NASDAQ:ALMU) rose 1.5% during mid-day trading on Thursday . The stock traded as high as $27.81 and last traded at $27.21. Approximately 1,026,583 shares changed hands during trading, a decline of 11% from the average daily volume of 1,159,375 shares. The stock had previously closed at $26.80.

Analyst Ratings Changes

ALMU has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research report on Monday, April 20th. UBS Group reiterated a “buy” rating on shares of Aeluma in a research report on Tuesday, March 3rd. Freedom Capital upgraded Aeluma to a “strong-buy” rating in a research report on Tuesday, March 31st. Benchmark reiterated a “buy” rating and set a $25.00 price objective on shares of Aeluma in a research report on Tuesday, March 3rd. Finally, Wall Street Zen downgraded Aeluma from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $25.33.

Aeluma Price Performance

The stock has a market cap of $498.22 million, a P/E ratio of -77.74 and a beta of 3.94. The company has a fifty day moving average of $19.47 and a 200 day moving average of $17.43.

Aeluma (NASDAQ:ALMU) last announced its earnings results on Wednesday, May 13th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Aeluma had a negative return on equity of 12.03% and a negative net margin of 115.57%.The firm had revenue of $1.22 million for the quarter, compared to analysts’ expectations of $1.37 million.

Insider Activity at Aeluma

In related news, CEO Jonathan Klamkin sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $24.96, for a total transaction of $499,200.00. Following the sale, the chief executive officer owned 2,403 shares of the company’s stock, valued at $59,978.88. The trade was a 89.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $19.99, for a total value of $249,875.00. Following the sale, the director directly owned 382,709 shares in the company, valued at approximately $7,650,352.91. The trade was a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 52,500 shares of company stock worth $1,011,075. 14.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aeluma

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALMU. Polar Asset Management Partners Inc. increased its holdings in shares of Aeluma by 0.8% in the first quarter. Polar Asset Management Partners Inc. now owns 91,030 shares of the company’s stock valued at $1,192,000 after buying an additional 747 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Aeluma by 79.2% in 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 in the last quarter. &PARTNERS increased its holdings in shares of Aeluma by 6.5% in the fourth quarter. &PARTNERS now owns 15,057 shares of the company’s stock valued at $259,000 after buying an additional 923 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Aeluma in the fourth quarter valued at $27,000. Finally, Quantbot Technologies LP bought a new position in shares of Aeluma in the third quarter valued at $29,000.

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.