Akoustis Technologies (AKTS) Sees Unusually-High Trading Volume

Share on StockTwits

Akoustis Technologies Inc (NASDAQ:AKTS) shares saw an uptick in trading volume on Wednesday . 56,416 shares changed hands during mid-day trading, a decline of 90% from the previous session’s volume of 564,505 shares.The stock last traded at $4.96 and had previously closed at $4.45.

Several brokerages have issued reports on AKTS. Loop Capital dropped their price target on Akoustis Technologies from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Oppenheimer assumed coverage on Akoustis Technologies in a report on Thursday, August 30th. They set an “outperform” rating and a $10.00 price objective for the company. Finally, Piper Jaffray Companies assumed coverage on Akoustis Technologies in a report on Wednesday, October 10th. They set a “buy” rating and a $10.00 price objective for the company. Six equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $11.42.

The company has a current ratio of 6.01, a quick ratio of 5.99 and a debt-to-equity ratio of 0.83.

In related news, VP David Aichele sold 3,700 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $7.68, for a total transaction of $28,416.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey B. Shealy sold 7,200 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $7.67, for a total value of $55,224.00. The disclosure for this sale can be found here. Insiders have sold 49,193 shares of company stock valued at $379,560 in the last quarter. 22.60% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the stock. Northern Trust Corp grew its holdings in Akoustis Technologies by 36.3% during the first quarter. Northern Trust Corp now owns 134,222 shares of the technology company’s stock worth $783,000 after buying an additional 35,713 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in Akoustis Technologies by 3,061.7% during the second quarter. Salem Investment Counselors Inc. now owns 142,275 shares of the technology company’s stock worth $1,034,000 after buying an additional 137,775 shares in the last quarter. D.A. Davidson & CO. grew its holdings in Akoustis Technologies by 18.8% during the second quarter. D.A. Davidson & CO. now owns 113,500 shares of the technology company’s stock worth $825,000 after buying an additional 18,000 shares in the last quarter. MYDA Advisors LLC bought a new stake in Akoustis Technologies during the second quarter worth $611,000. Finally, Financial Advocates Investment Management grew its holdings in Akoustis Technologies by 14.6% during the second quarter. Financial Advocates Investment Management now owns 259,150 shares of the technology company’s stock worth $1,884,000 after buying an additional 33,000 shares in the last quarter. Institutional investors and hedge funds own 14.64% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This piece was reported by Macon Daily and is the property of of Macon Daily. If you are reading this piece on another domain, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this piece can be read at https://macondaily.com/2018/11/07/akoustis-technologies-akts-sees-unusually-high-trading-volume.html.

About Akoustis Technologies (NASDAQ:AKTS)

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.

Read More: Fundamental Analysis and Choosing Stocks

Receive News & Ratings for Akoustis Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akoustis Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply