Aeluma, Inc. (NASDAQ:ALMU) Stock Has Average Price Target of $22.75

Shares of Aeluma, Inc. (NASDAQ:ALMU) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $22.75.

ALMU has been the subject of a number of research analyst reports. Freedom Broker decreased their price target on Aeluma from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, September 17th. Northland Securities initiated coverage on Aeluma in a research report on Monday, November 2nd. They issued an “outperform” rating and a $16.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Aeluma in a research note on Thursday, October 15th. Finally, Zacks Research assumed coverage on Aeluma in a research note on Tuesday, November 3rd. They issued a “hold” rating on the stock.

Aeluma Price Performance

Shares of ALMU opened at $7.58 on Friday. Aeluma has a twelve month low of $5.87 and a twelve month high of $31.79. The company’s fifty day simple moving average is $10.44 and its 200-day simple moving average is $16.07.

Aeluma (NASDAQ:ALMU) last released its earnings results on Thursday, November 12th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. The firm had revenue of $0.57 million during the quarter. Aeluma had a negative net margin of 205.31% and a negative return on equity of 18.14%. On average, research analysts expect that Aeluma will post -0.57 earnings per share for the current year.

Insider Activity

In related news, CEO Jonathan Klamkin sold 100,000 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $10.53, for a total value of $1,053,000.00. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven Denbaars sold 12,500 shares of the company’s stock in a transaction dated 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 owned 357,709 shares in the company, valued at $4,950,692.56. This represents a 3.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 212,500 shares of company stock worth $2,561,000 in the last ninety days. 12.78% of the stock is currently owned by insiders.

Institutional Trading of Aeluma

Hedge funds have recently modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of Aeluma in the 2nd quarter worth $26,000. Allworth Financial LP acquired a new stake in Aeluma in the third quarter worth about $60,000. JNBA Financial Advisors boosted its holdings in Aeluma by 107.2% in 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 in the last quarter. State of Wyoming purchased a new stake in shares of Aeluma during the second quarter worth about $81,000. Finally, Secure Asset Management LLC acquired a new position in shares of Aeluma during the third quarter valued at about $136,000.

About Aeluma

Aeluma, Inc. develops semiconductor materials and optoelectronic devices using technology designed to integrate compound semiconductors with silicon wafers. Its approach aims to combine the performance of compound semiconductors with the scale and manufacturing advantages of silicon-based processes. The company’s technology is intended for applications in areas such as optical communications, sensing, and other photonics markets. Potential device applications include lasers and photodetectors, which can be used to generate or detect light in electronic systems.