Aeluma, Inc. $ALMU Stock Acquired by Wedbush Securities Inc.

Wedbush Securities Inc. increased its stake in shares of Aeluma, Inc. (NASDAQ:ALMU) by 586.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 352,775 shares of the company’s stock after purchasing an additional 301,350 shares during the period. Wedbush Securities Inc.’s holdings in Aeluma were worth $4,360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Aeluma during the 2nd quarter valued at $21,489,000. AWM Investment Company Inc. purchased a new stake in shares of Aeluma in the second quarter valued at $2,901,000. Bank of New York Mellon Corp purchased a new stake in shares of Aeluma in the second quarter valued at $2,047,000. Fortitude Advisory Group L.L.C. acquired a new stake in shares of Aeluma during the first quarter valued at $464,000. Finally, Bank of America Corp DE acquired a new stake in shares of Aeluma during the second quarter valued at $509,000.

Aeluma Stock Performance

NASDAQ ALMU traded down $0.26 during mid-day trading on Friday, reaching $6.91. 560,167 shares of the stock were exchanged, compared to its average volume of 630,349. The stock has a market capitalization of $133.50 million, a PE ratio of -13.29 and a beta of 4.10. Aeluma, Inc. has a 1-year low of $6.89 and a 1-year high of $31.79. The business’s fifty day simple moving average is $12.37 and its 200 day simple moving average is $17.30.

Aeluma (NASDAQ:ALMU) last issued its quarterly earnings results on Wednesday, September 16th. The company reported ($0.15) earnings per share for the quarter. Aeluma had a negative net margin of 205.31% and a negative return on equity of 18.14%. The business had revenue of $0.58 million during the quarter.

Insider Activity

In related news, CEO Jonathan Klamkin sold 100,000 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $10.53, for a total transaction of $1,053,000.00. Following the transaction, the chief executive officer directly owned 1,126,995 shares in the company, valued at approximately $11,867,257.35. This represents a 8.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $13.84, for a total value of $173,000.00. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Insiders have sold 212,500 shares of company stock worth $2,561,000 over the last quarter. 12.78% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research report on Thursday, October 15th. Freedom Broker cut their target price on shares of Aeluma from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, September 17th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Aeluma Company Profile

Aeluma, Inc is a semiconductor company developing technologies designed to manufacture high-performance compound semiconductor devices on large-diameter silicon substrates. Its approach is intended to combine the performance characteristics of compound semiconductors with the scalability and manufacturing infrastructure associated with silicon wafers.

The company’s technology is applicable to products such as photodetectors, light-emitting devices, laser components and other optoelectronic devices.