Akoustis Technologies Inc (AKTS) Receives Average Rating of “Buy” from Brokerages

Shares of Akoustis Technologies Inc (NASDAQ:AKTS) have received an average recommendation of “Buy” from the seven research firms that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a buy rating. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $11.21.

A number of equities analysts have issued reports on AKTS shares. Oppenheimer started coverage on shares of Akoustis Technologies in a research report on Thursday, August 30th. They issued an “outperform” rating and a $10.00 price objective on the stock. Piper Jaffray Companies started coverage on shares of Akoustis Technologies in a research report on Wednesday, October 10th. They issued a “buy” rating and a $10.00 price objective on the stock. Loop Capital reduced their price target on shares of Akoustis Technologies from $15.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Finally, Lake Street Capital started coverage on shares of Akoustis Technologies in a research report on Friday. They set a “buy” rating and a $10.00 price target on the stock.

In related news, Director Jeffrey Mcmahon sold 3,230 shares of the business’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $8.24, for a total transaction of $26,615.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP David Aichele sold 10,175 shares of the business’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $7.15, for a total transaction of $72,751.25. The disclosure for this sale can be found here. Insiders have sold 47,753 shares of company stock worth $342,347 in the last quarter. 22.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in AKTS. LMR Partners LLP purchased a new position in shares of Akoustis Technologies during the second quarter valued at about $216,000. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Akoustis Technologies during the third quarter valued at about $340,000. Paloma Partners Management Co purchased a new position in shares of Akoustis Technologies during the second quarter valued at about $424,000. UBS Group AG increased its position in shares of Akoustis Technologies by 28.8% during the first quarter. UBS Group AG now owns 83,274 shares of the technology company’s stock valued at $485,000 after buying an additional 18,634 shares during the period. Finally, Providence Capital Advisors LLC increased its position in shares of Akoustis Technologies by 10.8% during the second quarter. Providence Capital Advisors LLC now owns 73,778 shares of the technology company’s stock valued at $536,000 after buying an additional 7,205 shares during the period. Institutional investors own 11.31% of the company’s stock.

Shares of AKTS stock traded up $0.25 during mid-day trading on Thursday, reaching $5.30. The stock had a trading volume of 3,460 shares, compared to its average volume of 461,285. Akoustis Technologies has a 52-week low of $3.40 and a 52-week high of $9.50. The company has a debt-to-equity ratio of 1.30, a quick ratio of 4.79 and a current ratio of 4.81.

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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