Akoustis Technologies Inc (NASDAQ:AKTS) – Analysts at Oppenheimer lowered their FY2019 earnings estimates for Akoustis Technologies in a research report issued to clients and investors on Tuesday, November 6th. Oppenheimer analyst R. Schafer now expects that the technology company will post earnings per share of ($0.92) for the year, down from their prior forecast of ($0.78). Oppenheimer has a “Outperform” rating and a $10.00 price target on the stock. Oppenheimer also issued estimates for Akoustis Technologies’ Q4 2019 earnings at ($0.19) EPS.
A number of other research firms also recently weighed in on AKTS. Piper Jaffray Companies began coverage on shares of Akoustis Technologies in a research report on Wednesday, October 10th. They issued a “buy” rating and a $10.00 price target for the company. Loop Capital dropped their price target on shares of Akoustis Technologies from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Six research analysts have rated the stock with a buy rating, Akoustis Technologies presently has an average rating of “Buy” and a consensus price target of $11.42.
In other news, CFO John T. Kurtzweil sold 12,500 shares of Akoustis Technologies stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $8.08, for a total value of $101,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Suzanne B. Rudy sold 8,000 shares of Akoustis Technologies stock in a transaction that occurred on Wednesday, October 3rd. The shares were sold at an average price of $7.45, for a total transaction of $59,600.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,193 shares of company stock valued at $379,560. 22.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKTS. Northern Trust Corp raised its position in shares of Akoustis Technologies by 36.3% in the first quarter. Northern Trust Corp now owns 134,222 shares of the technology company’s stock valued at $783,000 after buying an additional 35,713 shares in the last quarter. BlackRock Inc. raised its position in shares of Akoustis Technologies by 13.1% in the first quarter. BlackRock Inc. now owns 452,865 shares of the technology company’s stock valued at $2,639,000 after buying an additional 52,572 shares in the last quarter. UBS Group AG raised its position in shares of Akoustis Technologies by 28.8% in the first 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 in the last quarter. Essex Investment Management Co. LLC acquired a new stake in shares of Akoustis Technologies in the second quarter valued at approximately $742,000. Finally, D.A. Davidson & CO. raised its position in shares of Akoustis Technologies by 18.8% in the second 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 in the last quarter. Institutional investors own 14.64% 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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