Aeluma (NASDAQ:ALMU) Stock Price Down 1.2% – Should You Sell?

Aeluma, Inc. (NASDAQ:ALMU)’s stock price traded down 1.2% during mid-day trading on Wednesday . The company traded as low as $21.81 and last traded at $22.30. 1,011,273 shares changed hands during trading, a decline of 13% from the average session volume of 1,158,858 shares. The stock had previously closed at $22.56.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $25.00 target price on shares of Aeluma in a report on Tuesday, March 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research report on Monday, April 20th. Wall Street Zen cut Aeluma from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. UBS Group reissued a “buy” rating on shares of Aeluma in a research note on Tuesday, March 3rd. Finally, Freedom Capital raised Aeluma to a “strong-buy” rating in a research note on Tuesday, March 31st. 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Aeluma Trading Down 1.2%

The stock has a market capitalization of $408.31 million, a price-to-earnings ratio of -63.71 and a beta of 3.94. The stock has a 50-day simple moving average of $20.39 and a 200 day simple moving average of $17.75.

Aeluma (NASDAQ:ALMU) last announced its quarterly earnings results on Wednesday, May 13th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $1.22 million during the quarter, compared to analyst estimates of $1.37 million. Aeluma had a negative return on equity of 12.03% and a negative net margin of 115.57%.

Insider Activity

In related news, 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 completion of 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $499,200.00. Following the completion of the sale, the chief executive officer owned 2,403 shares of the company’s stock, valued at approximately $59,978.88. This trade represents a 89.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 52,500 shares of company stock valued at $1,011,075. 14.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Aeluma

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd acquired a new stake in Aeluma in the 4th quarter worth approximately $27,000. Quantbot Technologies LP bought a new position in Aeluma in the 3rd quarter worth approximately $29,000. BNP Paribas Financial Markets increased its position in Aeluma by 79.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,934 shares of the company’s stock worth $31,000 after buying an additional 855 shares during the period. Osaic Holdings Inc. bought a new position in Aeluma in the 2nd quarter worth approximately $32,000. Finally, State of Wyoming bought a new position in Aeluma in the 4th quarter worth approximately $35,000.

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.