Steven Denbaars Sells 7,000 Shares of Akoustis Technologies Inc (NASDAQ:AKTS) Stock

Akoustis Technologies Inc (NASDAQ:AKTS) Director Steven Denbaars sold 7,000 shares of Akoustis Technologies 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 Securities & Exchange Commission, which is accessible through the SEC website.

Steven Denbaars also recently made the following trade(s):

  • On Monday, April 29th, Steven Denbaars sold 7,000 shares of Akoustis Technologies stock. The shares were sold at an average price of $6.58, for a total value of $46,060.00.

Shares of NASDAQ:AKTS opened at $6.02 on Friday. Akoustis Technologies Inc has a 1 year low of $3.40 and a 1 year high of $9.37. The business’s 50-day moving average price is $6.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 12.78 and a quick ratio of 12.72.

Akoustis Technologies (NASDAQ:AKTS) last released its quarterly earnings results 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). The company had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $0.67 million. Akoustis Technologies had a negative return on equity of 128.55% and a negative net margin of 2,879.43%. As a group, sell-side analysts forecast that Akoustis Technologies Inc will post -1.13 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Akoustis Technologies by 4.2% in the 4th quarter. BlackRock Inc. now owns 41,547 shares of the technology company’s stock valued at $206,000 after purchasing an additional 1,681 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Akoustis Technologies by 26.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,800 shares of the technology company’s stock valued at $83,000 after purchasing an additional 3,500 shares in the last quarter. IHT Wealth Management LLC raised its position in shares of Akoustis Technologies by 25.5% in the 4th quarter. IHT Wealth Management LLC now owns 19,181 shares of the technology company’s stock valued at $95,000 after purchasing an additional 3,900 shares in the last quarter. Quad Capital Management Advisors LLC acquired a new position in shares of Akoustis Technologies in the 4th quarter valued at approximately $71,000. Finally, Marshall Wace North America L.P. acquired a new position in shares of Akoustis Technologies in the 1st quarter valued at approximately $97,000. 22.65% of the stock is currently owned by institutional investors.

Several research firms have commented on AKTS. Northland Securities upgraded Akoustis Technologies from a “market perform” rating to an “outperform” rating in a report on Wednesday. Craig Hallum restated a “buy” rating and issued a $12.00 price target (up previously from $10.00) on shares of Akoustis Technologies in a report on Monday, May 13th. Finally, Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $10.17.

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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