Insider Selling: Aeluma (NASDAQ:ALMU) Director Sells $173,000.00 in Stock

Aeluma, Inc. (NASDAQ:ALMU) Director Steven Denbaars sold 12,500 shares of Aeluma stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total transaction of $173,000.00. Following the completion of the transaction, the director directly owned 357,709 shares in the company, valued at approximately $4,950,692.56. The trade was a 3.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Aeluma Stock Performance

Aeluma stock opened at $13.14 on Monday. The firm has a 50-day moving average of $17.11 and a 200-day moving average of $18.24. The firm has a market cap of $240.59 million, a P/E ratio of -37.54 and a beta of 4.19. Aeluma, Inc. has a 1-year low of $10.24 and a 1-year high of $31.79.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Total Clarity Wealth Management Inc. bought a new position in Aeluma in the fourth quarter worth $740,000. AWM Investment Company Inc. bought a new stake in shares of Aeluma in the 2nd quarter worth approximately $2,901,000. Fortitude Advisory Group L.L.C. bought a new stake in Aeluma in the first quarter worth $464,000. Wedbush Securities Inc. purchased a new stake in Aeluma during the 2nd quarter valued at about $1,135,000. Finally, Wealthfront Advisers LLC purchased a new stake in shares of Aeluma during the second quarter valued at approximately $211,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research report on Friday, July 17th. Wall Street Zen lowered Aeluma from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

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.