Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Free Report) crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $0.58 and traded as high as $0.61. Akoustis Technologies shares last traded at $0.60, with a volume of 297,825 shares trading hands.
Wall Street Analyst Weigh In
Separately, Piper Sandler downgraded shares of Akoustis Technologies from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $2.00 to $1.00 in a research note on Thursday, January 4th.
Akoustis Technologies Stock Performance
Akoustis Technologies (NASDAQ:AKTS – Get Free Report) last posted its earnings results on Tuesday, February 13th. The technology company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The business had revenue of $7.02 million for the quarter, compared to analyst estimates of $6.99 million. Akoustis Technologies had a negative return on equity of 80.80% and a negative net margin of 232.77%. During the same period last year, the company posted ($0.19) EPS. On average, analysts expect that Akoustis Technologies, Inc. will post -0.68 EPS for the current fiscal year.
Institutional Trading of Akoustis Technologies
A number of institutional investors and hedge funds have recently bought and sold shares of AKTS. Marathon Capital Management increased its position in Akoustis Technologies by 108.2% during the 4th quarter. Marathon Capital Management now owns 35,600 shares of the technology company’s stock worth $30,000 after purchasing an additional 18,500 shares in the last quarter. Griffin Asset Management Inc. acquired a new stake in Akoustis Technologies during the 4th quarter worth approximately $33,000. Providence Capital Advisors LLC increased its position in Akoustis Technologies by 492.6% during the 3rd quarter. Providence Capital Advisors LLC now owns 60,150 shares of the technology company’s stock worth $45,000 after purchasing an additional 50,000 shares in the last quarter. BNP Paribas Financial Markets increased its position in Akoustis Technologies by 47.9% during the 1st quarter. BNP Paribas Financial Markets now owns 82,295 shares of the technology company’s stock worth $49,000 after purchasing an additional 26,654 shares in the last quarter. Finally, Crestwood Advisors Group LLC acquired a new stake in Akoustis Technologies during the 3rd quarter worth approximately $84,000. Institutional investors and hedge funds own 28.84% of the company’s stock.
Akoustis Technologies Company Profile
Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, designs, develops, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industry in the United States, Asia, Europe, and internationally. It operates through Foundry Fabrication Services and RF Filters segments.
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