Insider Selling: Aeluma (NASDAQ:ALMU) Major Shareholder Sells $439,250.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) major shareholder Mark Tompkins sold 25,000 shares of Aeluma stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $17.57, for a total value of $439,250.00. Following the transaction, the insider directly owned 2,890,833 shares of the company’s stock, valued at $50,791,935.81. The trade was a 0.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Aeluma Stock Performance

Shares of Aeluma stock opened at $18.01 on Friday. The stock has a 50-day moving average price of $19.07. Aeluma, Inc. has a 12-month low of $2.52 and a 12-month high of $25.88. The stock has a market capitalization of $321.48 million and a P/E ratio of -75.04.

Analysts Set New Price Targets

Several research analysts have commented on ALMU shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a report on Saturday, September 27th. Benchmark reiterated a “buy” rating and issued a $25.00 price objective on shares of Aeluma in a research report on Wednesday, September 24th. Finally, Craig Hallum initiated coverage on Aeluma in a research note on Monday, July 14th. They set a “buy” rating and a $26.00 price objective for the company. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Aeluma presently has a consensus rating of “Hold” and a consensus target price of $25.50.

Institutional Trading of Aeluma

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Atria Wealth Solutions Inc. raised its stake in shares of 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 acquiring an additional 500 shares in the last quarter. Osaic Holdings Inc. purchased a new stake in shares of Aeluma in the 2nd quarter valued at $32,000. Police & Firemen s Retirement System of New Jersey bought a new position in shares of Aeluma during the 2nd quarter valued at $32,000. JNBA Financial Advisors purchased a new position in Aeluma in the 2nd quarter worth $52,000. Finally, JPMorgan Chase & Co. bought a new stake in Aeluma in the second quarter worth $74,000.

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.