Akoustis Technologies Inc (AKTS) Director Purchases $20,020.00 in Stock

Akoustis Technologies Inc (NASDAQ:AKTS) Director Arthur Geiss acquired 3,850 shares of Akoustis Technologies stock in a transaction on Thursday, November 8th. The stock was acquired at an average price of $5.20 per share, with a total value of $20,020.00. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Shares of NASDAQ AKTS traded down $0.45 during trading on Friday, reaching $4.35. 5,097 shares of the stock traded hands, compared to its average volume of 680,263. Akoustis Technologies Inc has a 52-week low of $3.40 and a 52-week high of $9.50. The company has a quick ratio of 5.99, a current ratio of 4.81 and a debt-to-equity ratio of 1.30.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Providence Capital Advisors LLC lifted its position in shares of Akoustis Technologies by 10.8% during the 2nd quarter. Providence Capital Advisors LLC now owns 73,778 shares of the technology company’s stock valued at $536,000 after buying an additional 7,205 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of Akoustis Technologies by 18.8% during the 2nd quarter. D.A. Davidson & CO. now owns 113,500 shares of the technology company’s stock valued at $825,000 after buying an additional 18,000 shares during the last quarter. UBS Group AG lifted its position in shares of Akoustis Technologies by 28.8% during the 1st quarter. UBS Group AG now owns 83,274 shares of the technology company’s stock valued at $485,000 after buying an additional 18,634 shares during the last quarter. LMR Partners LLP purchased a new position in shares of Akoustis Technologies during the 2nd quarter valued at $216,000. Finally, Financial Advocates Investment Management lifted its position in shares of Akoustis Technologies by 14.6% during the 2nd quarter. Financial Advocates Investment Management now owns 259,150 shares of the technology company’s stock valued at $1,884,000 after buying an additional 33,000 shares during the last quarter. 14.64% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on the company. Loop Capital reduced their price objective on Akoustis Technologies from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Piper Jaffray Companies started coverage on Akoustis Technologies in a research note on Wednesday, October 10th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Oppenheimer started coverage on Akoustis Technologies in a research report on Thursday, August 30th. They set an “outperform” rating and a $10.00 price target on the stock. Six research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average target price of $11.42.

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About Akoustis Technologies

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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