Northland Securities Initiates Coverage on Aeluma (NASDAQ:ALMU)

Research analysts at Northland Securities began coverage on shares of Aeluma (NASDAQ:ALMU) in a report issued on Monday, Briefing.com reports. The firm set an “outperform” rating and a $16.00 price target on the stock. Northland Securities‘s target price indicates a potential upside of 112.20% from the stock’s previous close.

ALMU has been the topic of several other research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Aeluma in a research note on Thursday, October 15th. Freedom Broker decreased their target price on Aeluma from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, September 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $22.75.

Aeluma Stock Performance

Shares of Aeluma stock opened at $7.54 on Monday. The firm has a fifty day moving average of $11.58 and a two-hundred day moving average of $16.63. The stock has a market capitalization of $145.67 million, a price-to-earnings ratio of -14.50 and a beta of 4.53. Aeluma has a 52 week low of $6.59 and a 52 week high of $31.79.

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

Insider Activity

In other news, CEO Jonathan Klamkin sold 100,000 shares of the firm’s 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 sale, the chief executive officer owned 1,126,995 shares of the company’s stock, valued at $11,867,257.35. This trade represents a 8.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 Aeluma stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $13.84, for a total value of $173,000.00. Following the transaction, the director owned 357,709 shares in the company, valued at $4,950,692.56. This trade represents a 3.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 212,500 shares of company stock valued at $2,561,000 over the last 90 days. Corporate insiders own 12.78% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc bought a new stake in shares of Aeluma during the second quarter worth $26,000. JNBA Financial Advisors raised its holdings in shares of Aeluma by 107.2% during the second quarter. JNBA Financial Advisors now owns 3,340 shares of the company’s stock worth $74,000 after acquiring an additional 1,728 shares during the period. State of Wyoming bought a new stake in Aeluma in the 2nd quarter valued at $81,000. Wealthfront Advisers LLC bought a new stake in Aeluma in the 2nd quarter valued at $211,000. Finally, Secure Asset Management LLC acquired a new position in Aeluma in the 3rd quarter worth $136,000.

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.