Aeluma, Inc. (NASDAQ:ALMU) shares are trading lower Friday morning. This downward movement follows the company's third-quarter fiscal 2026 financial report released Wednesday after the bell.

While the company met earnings expectations, a revenue miss and a narrowed guidance range spooked investors.

Revenue Miss and Narrowed Guidance

For the quarter ended March 31, Aeluma reported sales of $1.222 million. This figure missed the analyst consensus estimate of $1.353 million by 9.70%. It also marks a 2.63% decline from the $1.255 million reported in the same period last year.

Management lowered its full-year 2026 revenue guidance to a range of $4.2 million to $4.6 million. The previous range was $4 million to $6 million.

According to the company, government shutdowns caused contract execution delays.

Earnings and Operational Highlights

Aeluma reported a quarterly loss of 4 cents per share, meeting analyst estimates. The company ended the quarter with $37.8 million in cash and equivalents.

CEO Jonathan Klamkin, noted strong commercial interest due to AI data center buildouts. “The industry is experiencing constraints around indium phosphide technology,” Klamkin stated. He added that these market forces validate the company’s platform.

Short Interest Data

Short interest in the semiconductor firm recently decreased. It fell from 3.68 million to 3.60 million shares. Currently, 27.5% of the company's float is sold short. Based on average daily volume, shorts would need 2.05 days to cover their positions.

Technical Analysis

Even with Friday's drop, ALMU is still holding above its key trend gauges: it's trading 6.2% above the 20-day SMA ($22.83) and about 40% above the 200-day SMA ($17.28), which keeps the longer-term uptrend intact.

The 20-day SMA remains above the 50-day SMA, and the golden cross in May (50-day above 200-day) continues to support the broader bullish structure.

ALMU Stock Price Activity: Aeluma shares were down 10.98% at $23.72 at the time of publication on Friday, according to Benzinga Pro data.

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