Endurance Wealth Management Inc. raised its holdings in Akoustis Technologies Inc (NASDAQ:AKTS) by 263.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,900 shares of the technology company’s stock after purchasing an additional 5,000 shares during the quarter. Endurance Wealth Management Inc.’s holdings in Akoustis Technologies were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Millennium Management LLC purchased a new stake in Akoustis Technologies in the 3rd quarter valued at approximately $161,000. Granahan Investment Management Inc. MA purchased a new stake in shares of Akoustis Technologies during the 3rd quarter worth approximately $766,000. Virtu Financial LLC purchased a new stake in shares of Akoustis Technologies during the 3rd quarter worth approximately $373,000. State Street Corp boosted its stake in shares of Akoustis Technologies by 4.1% during the 3rd quarter. State Street Corp now owns 385,580 shares of the technology company’s stock worth $2,988,000 after acquiring an additional 15,208 shares in the last quarter. Finally, D.A. Davidson & CO. boosted its stake in shares of Akoustis Technologies by 10.6% during the 3rd quarter. D.A. Davidson & CO. now owns 104,000 shares of the technology company’s stock worth $806,000 after acquiring an additional 10,000 shares in the last quarter. 26.35% of the stock is currently owned by institutional investors.
In related news, CEO Jeffrey B. Shealy sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $7.63, for a total value of $228,900.00. In the last ninety days, insiders sold 33,900 shares of company stock worth $258,657. 18.00% of the stock is owned by corporate insiders.
Akoustis Technologies (NASDAQ:AKTS) last posted its earnings results on Thursday, November 7th. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). Akoustis Technologies had a negative net margin of 1,843.77% and a negative return on equity of 105.40%. The company had revenue of $0.54 million during the quarter, compared to analysts’ expectations of $0.59 million. Equities research analysts anticipate that Akoustis Technologies Inc will post -1 EPS for the current fiscal year.
Several equities research analysts have recently commented on the company. Loop Capital reissued a “buy” rating and set a $11.00 price target on shares of Akoustis Technologies in a research note on Wednesday, January 8th. Zacks Investment Research raised Akoustis Technologies from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research note on Wednesday, January 8th. Oppenheimer set a $10.00 price target on Akoustis Technologies and gave the stock a “buy” rating in a research note on Wednesday, September 18th. BidaskClub lowered Akoustis Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, November 5th. Finally, Northland Securities decreased their price target on Akoustis Technologies from $7.40 to $7.00 and set a “market perform” rating on the stock in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Akoustis Technologies has an average rating of “Buy” and an average target price of $9.95.
Akoustis Technologies 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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