Akoustis Technologies (NASDAQ:AKTS) Downgraded to Market Perform at Northland Securities

Northland Securities lowered shares of Akoustis Technologies (NASDAQ:AKTS) from an outperform rating to a market perform rating in a report released on Wednesday, BenzingaRatingsTable reports. The firm currently has $7.40 price target on the technology company’s stock.

Separately, Zacks Investment Research downgraded shares of Akoustis Technologies from a hold rating to a sell rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Akoustis Technologies currently has a consensus rating of Buy and an average price target of $9.77.

NASDAQ AKTS opened at $8.23 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 12.72 and a current ratio of 9.89. Akoustis Technologies has a 1 year low of $3.40 and a 1 year high of $9.00. The company has a fifty day moving average of $6.77 and a two-hundred day moving average of $6.57.

In other news, CEO Jeffrey B. Shealy sold 7,500 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $5.85, for a total transaction of $43,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rohan Houlden sold 10,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $8.20, for a total transaction of $82,000.00. Insiders sold 31,300 shares of company stock valued at $204,096 in the last 90 days. 22.60% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in AKTS. Laurion Capital Management LP boosted its stake in shares of Akoustis Technologies by 121.7% during the first quarter. Laurion Capital Management LP now owns 132,038 shares of the technology company’s stock worth $767,000 after buying an additional 72,479 shares during the period. Connors Investor Services Inc. acquired a new stake in shares of Akoustis Technologies during the first quarter worth about $217,000. Marshall Wace North America L.P. acquired a new stake in shares of Akoustis Technologies during the first quarter worth about $97,000. Commonwealth Equity Services LLC boosted its stake in shares of Akoustis Technologies by 3.0% during the second quarter. Commonwealth Equity Services LLC now owns 221,514 shares of the technology company’s stock worth $1,417,000 after buying an additional 6,415 shares during the period. Finally, FNY Investment Advisers LLC boosted its stake in shares of Akoustis Technologies by 157.8% during the second quarter. FNY Investment Advisers LLC now owns 202,957 shares of the technology company’s stock worth $1,298,000 after buying an additional 124,218 shares during the period. Institutional investors and hedge funds own 37.99% 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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Analyst Recommendations for Akoustis Technologies (NASDAQ:AKTS)

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