Akoustis Technologies Inc (NASDAQ:AKTS) Receives Average Recommendation of “Buy” from Analysts

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Shares of Akoustis Technologies Inc (NASDAQ:AKTS) have been given an average rating of “Buy” by the six analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $10.08.

AKTS has been the topic of several research analyst reports. Oppenheimer set a $10.00 price objective on Akoustis Technologies and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Northland Securities downgraded Akoustis Technologies from an “outperform” rating to a “market perform” rating and set a $7.40 price objective on the stock. in a research note on Wednesday, September 18th. Finally, Zacks Investment Research downgraded Akoustis Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th.

Shares of Akoustis Technologies stock opened at $8.17 on Friday. Akoustis Technologies has a 12 month low of $3.40 and a 12 month high of $9.00. The company has a quick ratio of 9.87, a current ratio of 9.89 and a debt-to-equity ratio of 0.70. The stock’s fifty day simple moving average is $7.83 and its 200 day simple moving average is $6.80.

In other Akoustis Technologies news, VP David Aichele sold 10,250 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $7.74, for a total transaction of $79,335.00. Also, insider Rohan Houlden sold 10,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $8.20, for a total value of $82,000.00. In the last quarter, insiders have sold 65,550 shares of company stock valued at $507,217. Corporate insiders own 18.00% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. River & Mercantile Asset Management LLP bought a new position in shares of Akoustis Technologies in the 2nd quarter valued at about $1,871,000. HBK Sorce Advisory LLC grew its holdings in shares of Akoustis Technologies by 12.4% in the 2nd quarter. HBK Sorce Advisory LLC now owns 36,158 shares of the technology company’s stock valued at $231,000 after acquiring an additional 4,000 shares in the last quarter. Citadel Advisors LLC bought a new position in shares of Akoustis Technologies in the 2nd quarter valued at about $600,000. Connors Investor Services Inc. grew its holdings in shares of Akoustis Technologies by 17.4% in the 2nd quarter. Connors Investor Services Inc. now owns 43,906 shares of the technology company’s stock valued at $281,000 after acquiring an additional 6,500 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Akoustis Technologies by 15.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,241,285 shares of the technology company’s stock valued at $7,944,000 after acquiring an additional 163,067 shares in the last quarter. Hedge funds and other institutional investors own 37.32% of the company’s stock.

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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Analyst Recommendations for Akoustis Technologies (NASDAQ:AKTS)

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