Akoustis Technologies Inc (NASDAQ:AKTS) CEO Sells $228,900.00 in Stock

Akoustis Technologies Inc (NASDAQ:AKTS) CEO Jeffrey B. Shealy sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $7.63, for a total value of $228,900.00.

NASDAQ AKTS opened at $7.64 on Tuesday. Akoustis Technologies Inc has a 1 year low of $4.60 and a 1 year high of $9.00. The business’s fifty day moving average is $7.79 and its two-hundred day moving average is $7.01. The company has a quick ratio of 8.97, a current ratio of 9.01 and a debt-to-equity ratio of 1.03.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of Akoustis Technologies by 100.8% in the second quarter. Bank of New York Mellon Corp now owns 87,146 shares of the technology company’s stock valued at $558,000 after buying an additional 43,737 shares in the last quarter. Blackcrane Capital LLC purchased a new position in Akoustis Technologies during the 2nd quarter worth approximately $4,440,000. BlackRock Inc. grew its position in Akoustis Technologies by 979.0% during the 2nd quarter. BlackRock Inc. now owns 1,638,142 shares of the technology company’s stock worth $10,484,000 after purchasing an additional 1,486,322 shares in the last quarter. Vanguard Group Inc. grew its position in Akoustis Technologies by 15.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,241,285 shares of the technology company’s stock worth $7,944,000 after purchasing an additional 163,067 shares in the last quarter. Finally, CWM LLC purchased a new position in Akoustis Technologies during the 3rd quarter worth approximately $44,000. 31.15% of the stock is currently owned by institutional investors.

Several research firms have issued reports on AKTS. Oppenheimer set a $10.00 price target on Akoustis Technologies and gave the company a “buy” rating in a report on Wednesday, September 18th. Zacks Investment Research cut Akoustis Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. BidaskClub cut Akoustis Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, November 5th. Finally, Northland Securities reaffirmed a “hold” rating and issued a $7.40 price target on shares of Akoustis Technologies in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Akoustis Technologies presently has a consensus rating of “Hold” and an average price target of $9.73.

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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