Akoustis Technologies Inc (NASDAQ:AKTS) Insider Rohan Houlden Sells 8,750 Shares

Akoustis Technologies Inc (NASDAQ:AKTS) insider Rohan Houlden sold 8,750 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $7.64, for a total transaction of $66,850.00. Following the completion of the sale, the insider now owns 240,377 shares in the company, valued at approximately $1,836,480.28. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Rohan Houlden also recently made the following trade(s):

  • On Friday, July 17th, Rohan Houlden sold 2,200 shares of Akoustis Technologies stock. The shares were sold at an average price of $7.90, for a total transaction of $17,380.00.

AKTS traded up $0.03 on Wednesday, hitting $8.05. 277,698 shares of the company’s stock were exchanged, compared to its average volume of 608,307. The firm has a market cap of $306.45 million, a PE ratio of -7.43 and a beta of 1.65. Akoustis Technologies Inc has a twelve month low of $3.76 and a twelve month high of $9.55. The stock has a fifty day moving average of $8.04 and a two-hundred day moving average of $7.46. The company has a current ratio of 7.54, a quick ratio of 7.52 and a debt-to-equity ratio of 0.56.

Akoustis Technologies (NASDAQ:AKTS) last released its quarterly earnings data on Monday, August 24th. The technology company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The business had revenue of $0.37 million for the quarter, compared to analyst estimates of $0.43 million. Akoustis Technologies had a negative return on equity of 81.49% and a negative net margin of 2,018.99%. On average, analysts predict that Akoustis Technologies Inc will post -0.69 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Akoustis Technologies by 5.9% during the first quarter. BlackRock Inc. now owns 1,833,533 shares of the technology company’s stock worth $9,846,000 after acquiring an additional 101,991 shares during the period. Handelsbanken Fonder AB bought a new position in Akoustis Technologies in the 2nd quarter worth about $6,632,000. Needham Investment Management LLC bought a new position in Akoustis Technologies in the 1st quarter worth about $3,222,000. Geode Capital Management LLC grew its position in Akoustis Technologies by 40.3% in the 1st quarter. Geode Capital Management LLC now owns 478,523 shares of the technology company’s stock worth $2,569,000 after purchasing an additional 137,524 shares during the last quarter. Finally, State Street Corp grew its position in Akoustis Technologies by 7.5% in the 1st quarter. State Street Corp now owns 457,728 shares of the technology company’s stock worth $2,458,000 after purchasing an additional 31,809 shares during the last quarter. Hedge funds and other institutional investors own 38.77% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Akoustis Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 26th. Roth Capital restated a “buy” rating and issued a $12.00 target price (up previously from $10.00) on shares of Akoustis Technologies in a research note on Monday, August 24th. Finally, BidaskClub lowered shares of Akoustis Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $9.80.

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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