Jonathan Klamkin Sells 50,000 Shares of Aeluma (NASDAQ:ALMU) Stock

Aeluma, Inc. (NASDAQ:ALMU) CEO Jonathan Klamkin sold 50,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $18.05, for a total value of $902,500.00. Following the completion of the transaction, the chief executive officer owned 1,429,398 shares of the company’s stock, valued at approximately $25,800,633.90. This trade represents a 3.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Aeluma Trading Down 4.5%

Shares of ALMU stock opened at $15.02 on Friday. The company’s fifty day moving average price is $17.56 and its 200-day moving average price is $16.91. The stock has a market cap of $271.11 million and a PE ratio of -107.28. Aeluma, Inc. has a 12 month low of $5.79 and a 12 month high of $25.88.

Institutional Investors Weigh In On Aeluma

Several institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd bought a new position in Aeluma in the 4th quarter valued at approximately $27,000. Quantbot Technologies LP purchased a new position in shares of Aeluma in the third quarter worth $29,000. BNP Paribas Financial Markets lifted its holdings in shares of 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 purchasing an additional 855 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Aeluma during the second quarter valued at $32,000. Finally, Osaic Holdings Inc. bought a new stake in Aeluma in the 2nd quarter worth about $32,000.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALMU. Benchmark reaffirmed a “buy” rating and set a $25.00 target price on shares of Aeluma in a research note on Tuesday. UBS Group reissued a “buy” rating on shares of Aeluma in a research report on Tuesday. Wall Street Zen lowered Aeluma from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Williams Trading set a $25.00 target price on Aeluma in a report on Tuesday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Aeluma in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Aeluma has an average rating of “Moderate Buy” and an average target price of $25.33.

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.