Northland Securities upgraded shares of Akoustis Technologies (NASDAQ:AKTS) from a market perform rating to an outperform rating in a report released on Wednesday morning, Briefing.com Automated Import reports.
AKTS has been the topic of a number of other research reports. Craig Hallum reiterated a buy rating and set a $12.00 price objective (up previously from $10.00) on shares of Akoustis Technologies in a research report on Monday, May 13th. Zacks Investment Research cut shares of EXACT Sciences from a hold rating to a sell rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $10.17.
AKTS stock opened at $5.75 on Wednesday. The company has a current ratio of 12.78, a quick ratio of 12.72 and a debt-to-equity ratio of 0.64. Akoustis Technologies has a twelve month low of $3.40 and a twelve month high of $9.37. The company’s fifty day moving average price is $6.54.
Akoustis Technologies (NASDAQ:AKTS) last posted its quarterly earnings data on Friday, May 10th. The technology company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.03). Akoustis Technologies had a negative net margin of 2,879.43% and a negative return on equity of 128.55%. The firm had revenue of $0.24 million for the quarter, compared to the consensus estimate of $0.67 million. As a group, analysts anticipate that Akoustis Technologies will post -1.13 EPS for the current fiscal year.
In other news, Director Steven Denbaars sold 7,000 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $5.63, for a total value of $39,410.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeffrey B. Shealy sold 7,500 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $5.85, for a total transaction of $43,875.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,000 shares of company stock worth $149,320. Company insiders own 22.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of AKTS. Quad Capital Management Advisors LLC bought a new position in shares of Akoustis Technologies in the fourth quarter worth about $71,000. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Akoustis Technologies by 26.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,800 shares of the technology company’s stock worth $83,000 after purchasing an additional 3,500 shares during the last quarter. IHT Wealth Management LLC grew its holdings in shares of Akoustis Technologies by 25.5% in the fourth quarter. IHT Wealth Management LLC now owns 19,181 shares of the technology company’s stock worth $95,000 after purchasing an additional 3,900 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Akoustis Technologies in the first quarter worth about $97,000. Finally, BlackRock Inc. lifted its stake in Akoustis Technologies by 4.2% in 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 during the period. Hedge funds and other institutional investors own 22.65% of the company’s stock.
Akoustis Technologies Company 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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