Laurion Capital Management LP lifted its stake in Akoustis Technologies Inc (NASDAQ:AKTS) by 121.7% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,038 shares of the technology company’s stock after purchasing an additional 72,479 shares during the period. Laurion Capital Management LP’s holdings in Akoustis Technologies were worth $767,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of AKTS. Quad Capital Management Advisors LLC bought a new position in Akoustis Technologies during the fourth quarter worth about $71,000. Raymond James Financial Services Advisors Inc. lifted its holdings in Akoustis Technologies by 26.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,800 shares of the technology company’s stock worth $83,000 after acquiring an additional 3,500 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in Akoustis Technologies by 25.5% during the fourth quarter. IHT Wealth Management LLC now owns 19,181 shares of the technology company’s stock worth $95,000 after acquiring an additional 3,900 shares in the last quarter. BlackRock Inc. lifted its holdings in Akoustis Technologies by 4.2% during the fourth quarter. BlackRock Inc. now owns 41,547 shares of the technology company’s stock worth $206,000 after acquiring an additional 1,681 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Akoustis Technologies during the fourth quarter worth about $230,000. Institutional investors and hedge funds own 21.73% of the company’s stock.
In other Akoustis Technologies news, Director Steven Denbaars sold 7,000 shares of Akoustis Technologies stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $6.58, for a total value of $46,060.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 14,000 shares of company stock worth $94,525 in the last three months. Company insiders own 22.60% of the company’s stock.
Several analysts have issued reports on the company. Craig Hallum reissued a “buy” rating and issued a $10.00 price target (up previously from $8.00) on shares of Akoustis Technologies in a research note on Tuesday, February 5th. Northland Securities downgraded Akoustis Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 5th. Finally, Zacks Investment Research downgraded Akoustis Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. Akoustis Technologies has an average rating of “Buy” and a consensus target price of $10.14.
AKTS opened at $6.96 on Friday. Akoustis Technologies Inc has a 1 year low of $3.40 and a 1 year high of $9.50. The company has a current ratio of 12.78, a quick ratio of 12.72 and a debt-to-equity ratio of 0.64.
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Akoustis Technologies Profile
Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, develops, designs, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industries in the United States. The company operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and smart systems technology and commercialization center foundry, as well as manufacturing and microelectromechanical systems foundry services.
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