Akoustis Technologies, Inc. (NASDAQ:AKTS) Director Sells $93,800.00 in Stock

Akoustis Technologies, Inc. (NASDAQ:AKTS) Director Steven Denbaars sold 7,000 shares of the firm’s stock in a transaction on Monday, January 11th. The stock was sold at an average price of $13.40, for a total value of $93,800.00. Following the completion of the transaction, the director now owns 260,829 shares of the company’s stock, valued at approximately $3,495,108.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of NASDAQ:AKTS opened at $13.04 on Thursday. The company has a current ratio of 9.40, a quick ratio of 9.34 and a debt-to-equity ratio of 0.70. Akoustis Technologies, Inc. has a 12-month low of $3.76 and a 12-month high of $14.24. The business has a 50 day moving average of $10.49 and a two-hundred day moving average of $8.71. The company has a market capitalization of $503.71 million, a PE ratio of -11.96 and a beta of 1.63.

Akoustis Technologies (NASDAQ:AKTS) last posted its earnings results on Sunday, November 8th. The technology company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.08). Akoustis Technologies had a negative net margin of 2,077.27% and a negative return on equity of 72.62%. The firm had revenue of $0.64 million for the quarter, compared to analysts’ expectations of $0.54 million. Equities research analysts predict that Akoustis Technologies, Inc. will post -0.73 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on AKTS shares. BidaskClub raised Akoustis Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, December 18th. Roth Capital raised their price target on shares of Akoustis Technologies from $12.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, January 4th. Zacks Investment Research downgraded shares of Akoustis Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, December 1st. Finally, Loop Capital raised their target price on shares of Akoustis Technologies from $11.00 to $17.00 and gave the stock a “buy” rating in a report on Tuesday, January 5th. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $13.00.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKTS. PNC Financial Services Group Inc. increased its holdings in Akoustis Technologies by 39.3% in the second quarter. PNC Financial Services Group Inc. now owns 10,000 shares of the technology company’s stock valued at $83,000 after buying an additional 2,820 shares in the last quarter. California Public Employees Retirement System grew its position in shares of Akoustis Technologies by 250.8% during the 2nd quarter. California Public Employees Retirement System now owns 62,800 shares of the technology company’s stock valued at $521,000 after acquiring an additional 44,900 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Akoustis Technologies by 7.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 109,931 shares of the technology company’s stock valued at $911,000 after purchasing an additional 7,264 shares in the last quarter. Bank of Montreal Can raised its holdings in Akoustis Technologies by 247.9% in the 2nd quarter. Bank of Montreal Can now owns 3,465 shares of the technology company’s stock worth $28,000 after purchasing an additional 2,469 shares during the period. Finally, Advisor Group Holdings Inc. boosted its position in Akoustis Technologies by 111.9% during the second quarter. Advisor Group Holdings Inc. now owns 3,921 shares of the technology company’s stock worth $32,000 after purchasing an additional 2,071 shares in the last quarter. 38.22% of the stock is owned by institutional investors.

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 industry in the United States. It operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and semiconductor wafer-manufacturing and microelectromechanical systems foundry services.

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