Aeluma CEO Sells $1.05 Million in Shares on October 12

Jonathan Klamkin, chief executive of Aeluma, Inc., disposed of 100,000 company shares on October 12 at an average price of $10.53, generating $1,053,000, according to MarketBeat, which cited a filing with the Securities and Exchange Commission.

The trade was carried out through a pre-arranged Rule 10b5-1 plan. Klamkin was left holding 1,126,995 shares worth roughly $11.87 million, a reduction of 8.15% in his holding. He had made a similar disposal of 100,000 shares on September 21 at an average of $13.35, for $1,335,000.

Aeluma stock fell $0.69 on October 14 to $9.12, with 645,729 shares changing hands against average turnover of 904,201. The company carries a market value of $176.20 million and has traded between $8.92 and $31.79 over the past year.

In results released on September 16, Aeluma posted a quarterly loss of $0.15 per share on revenue of $0.58 million. Freedom Broker cut its price target to $25.00 from $30.00 on September 17 while keeping a buy rating; Weiss Ratings repeated a sell rating on July 17. Among analysts tracked by MarketBeat, one rates the shares strong buy, three buy and one sell.

Founded in 2019 and based in Goleta, California, Aeluma develops optoelectronic devices that combine compound semiconductor materials with large-diameter silicon wafers for communications, sensing and computing uses.

This story was first reported by MarketBeat.