Aeluma (NASDAQ:ALMU) Given Buy Rating at Benchmark

Benchmark reiterated their buy rating on shares of Aeluma (NASDAQ:ALMU) in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a $25.00 price target on the stock.

Separately, Craig Hallum initiated coverage on shares of Aeluma in a report on Monday, July 14th. They set a “buy” rating and a $26.00 target price for the company. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $25.50.

Aeluma Stock Performance

Shares of NASDAQ:ALMU opened at $19.15 on Wednesday. The firm has a market cap of $341.83 million and a PE ratio of -79.79. The business’s 50 day simple moving average is $19.40. Aeluma has a one year low of $2.52 and a one year high of $25.88.

Insider Transactions at Aeluma

In related news, CEO Jonathan Klamkin sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $18.85, for a total transaction of $2,827,500.00. Following the completion of the transaction, the chief executive officer owned 1,479,398 shares in the company, valued at approximately $27,886,652.30. The trade was a 9.21% 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 this link.

Hedge Funds Weigh In On Aeluma

Hedge funds and other institutional investors have recently made changes to their positions in the company. Osaic Holdings Inc. acquired a new position in shares of Aeluma in the 2nd quarter valued at $32,000. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Aeluma in the second quarter worth about $32,000. JNBA Financial Advisors acquired a new stake in shares of Aeluma during the second quarter worth about $52,000. JPMorgan Chase & Co. bought a new position in shares of Aeluma during the 2nd quarter valued at about $74,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Aeluma in the 2nd quarter valued at approximately $86,000.

Aeluma Company Profile

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.