Squarepoint Ops LLC decreased its holdings in Akoustis Technologies, Inc. (NASDAQ:AKTS) by 55.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,083 shares of the technology company’s stock after selling 18,912 shares during the quarter. Squarepoint Ops LLC’s holdings in Akoustis Technologies were worth $162,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. ProShare Advisors LLC bought a new stake in shares of Akoustis Technologies in the second quarter worth $121,000. Clark Financial Services Group Inc. BD bought a new stake in Akoustis Technologies during the second quarter valued at $123,000. Hayden Royal LLC boosted its position in Akoustis Technologies by 15.2% during the second quarter. Hayden Royal LLC now owns 16,252 shares of the technology company’s stock valued at $174,000 after acquiring an additional 2,142 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Akoustis Technologies by 9.2% during the second quarter. Envestnet Asset Management Inc. now owns 18,125 shares of the technology company’s stock valued at $194,000 after acquiring an additional 1,533 shares during the last quarter. Finally, Delta Investment Management LLC boosted its position in Akoustis Technologies by 30.6% during the second quarter. Delta Investment Management LLC now owns 20,900 shares of the technology company’s stock valued at $224,000 after acquiring an additional 4,900 shares during the last quarter. 47.78% of the stock is currently owned by institutional investors.
A number of analysts have commented on AKTS shares. Oppenheimer cut their price target on shares of Akoustis Technologies from $18.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 2nd. Zacks Investment Research lowered shares of Akoustis Technologies from a “buy” rating to a “sell” rating in a report on Thursday, November 4th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Akoustis Technologies has a consensus rating of “Buy” and an average price target of $14.75.
AKTS opened at $6.82 on Thursday. Akoustis Technologies, Inc. has a fifty-two week low of $6.27 and a fifty-two week high of $19.15. The firm has a market capitalization of $354.95 million, a PE ratio of -7.03 and a beta of 1.30. The company’s 50-day moving average is $8.34 and its 200 day moving average is $9.19.
Akoustis Technologies (NASDAQ:AKTS) last posted its earnings results on Sunday, October 31st. The technology company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.05). Akoustis Technologies had a negative return on equity of 36.49% and a negative net margin of 573.95%. The business had revenue of $1.87 million during the quarter, compared to analyst estimates of $1.97 million. During the same quarter in the prior year, the company earned ($0.23) EPS. The company’s revenue was up 192.2% on a year-over-year basis. Sell-side analysts predict that Akoustis Technologies, Inc. will post -0.74 earnings per share for the current fiscal year.
Akoustis Technologies Profile
Akoustis Technologies, Inc is a filter solutions company, which engages in the development, design, and manufacture of radio frequency (RF) filter products. It operates through the Foundry Fabrication Services; and RF Filters segments. The Foundry Fabrication Services segment consists of engineering review services and STC-MEMS foundry services.
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