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Investing.com - Benchmark has reiterated its Buy rating and $25.00 price target on Aeluma (NASDAQ:ALMU) following the company’s recent capital raise that added $23.4 million to its balance sheet. According to InvestingPro data, ALMU is currently trading at $18.27, with analyst targets ranging from $20 to $25, suggesting potential upside.
The capital infusion brings Aeluma’s total cash position to approximately $38 million, providing flexibility to invest in scaling manufacturing partnerships, engineering talent, and working capital requirements for volume production. InvestingPro analysis shows the company holds more cash than debt and has delivered an impressive 523% return over the past year.
Benchmark noted that while no design win announcement appears imminent, the firm is encouraged by strengthening momentum in customer activity, which is outpacing Aeluma’s prior expectations, particularly in the defense and data center interconnect markets.
The company currently has over 20 active program engagements ongoing with customer interest continuing to increase, according to Benchmark’s assessment.
Aeluma is accelerating its commercialization efforts in direct response to the inflecting customer interest, with opportunities emerging across multiple end markets.
In other recent news, Aeluma, Inc. successfully raised approximately $25.4 million in gross proceeds through a public offering of 1,955,000 shares of common stock priced at $13.00 per share. This includes an additional 255,000 shares issued when underwriters fully exercised their option to purchase more shares. The company had initially announced plans for this public offering, with expectations of generating around $22.1 million before underwriting discounts and expenses. Meanwhile, Aeluma director Steven DenBaars terminated a previously adopted Rule 10b5-1 trading plan without selling any shares. This plan, established in June 2025, would have allowed the sale of up to 130,000 shares between October 2025 and May 2026. In other developments, DDC Enterprises reported a 9.4% year-over-year decline in revenue for the first half of 2025, with revenue totaling $15.6 million. Despite a notable improvement in gross profit and net income, the market reacted negatively to DDC Enterprises’ earnings report.
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