According to Zacks, “Akoustis Technologies, Inc. is a semiconductor designer and manufacturer of radio frequency resonators and filters which facilitate signal acquisition and accelerate band performance between the antenna and the back end of mobile devices. The company’s patent-pending Bulk ONE(TM) technology produces single crystal, piezoelectric bulk acoustic wave filters. Akoustis Technologies, Inc. is headquartered in Huntersville, North Carolina. “
AKTS has been the topic of a number of other reports. Northland Securities upgraded Akoustis Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 10th. Craig Hallum reiterated a “buy” rating and issued a $12.00 target price (up from $10.00) on shares of Akoustis Technologies in a research report on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $10.17.
Shares of NASDAQ:AKTS traded down $0.12 during mid-day trading on Tuesday, reaching $5.65. The stock had a trading volume of 25,368 shares, compared to its average volume of 717,196. The company has a current ratio of 12.78, a quick ratio of 12.72 and a debt-to-equity ratio of 0.64. Akoustis Technologies has a 1 year low of $3.40 and a 1 year high of $9.00. The business has a 50 day moving average of $6.28.
Akoustis Technologies (NASDAQ:AKTS) last posted its earnings results on Friday, May 10th. The technology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). The firm had revenue of $0.24 million during the quarter, compared to analysts’ expectations of $0.67 million. Akoustis Technologies had a negative return on equity of 128.55% and a negative net margin of 2,879.43%. On average, research analysts forecast that Akoustis Technologies will post -1.13 earnings per share for the current year.
In other Akoustis Technologies news, Director Steven Denbaars sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $6.58, for a total transaction of $46,060.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey B. Shealy sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $5.85, for a total value of $43,875.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,900 shares of company stock worth $177,700. Company insiders own 22.60% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Quad Capital Management Advisors LLC bought a new position in shares of Akoustis Technologies during the fourth quarter valued at approximately $71,000. Raymond James Financial Services Advisors Inc. grew its stake in shares of Akoustis Technologies by 26.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,800 shares of the technology company’s stock valued at $83,000 after buying an additional 3,500 shares during the last quarter. IHT Wealth Management LLC grew its stake in shares of Akoustis Technologies by 25.5% during the fourth quarter. IHT Wealth Management LLC now owns 19,181 shares of the technology company’s stock valued at $95,000 after buying an additional 3,900 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Akoustis Technologies during the first quarter valued at approximately $97,000. Finally, BlackRock Inc. grew its stake in shares of Akoustis Technologies by 4.2% during the fourth quarter. BlackRock Inc. now owns 41,547 shares of the technology company’s stock valued at $206,000 after buying an additional 1,681 shares during the last quarter. Institutional investors and hedge funds own 22.65% of the company’s stock.
Akoustis Technologies Company 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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