Steven Denbaars Sells 7,000 Shares of Akoustis Technologies Inc (NASDAQ:AKTS) Stock

Akoustis Technologies Inc (NASDAQ:AKTS) Director Steven Denbaars sold 7,000 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $7.72, for a total transaction of $54,040.00.

Shares of AKTS stock opened at $8.00 on Friday. The firm has a fifty day simple moving average of $7.66 and a 200-day simple moving average of $6.73. The company has a debt-to-equity ratio of 0.70, a quick ratio of 9.87 and a current ratio of 9.89. Akoustis Technologies Inc has a twelve month low of $3.40 and a twelve month high of $9.00.

Several research analysts have recently weighed in on AKTS shares. Oppenheimer set a $10.00 target price on shares of Akoustis Technologies and gave the company a “buy” rating in a research note on Wednesday, September 18th. Zacks Investment Research downgraded shares of Akoustis Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, August 29th. Finally, Northland Securities downgraded shares of Akoustis Technologies from an “outperform” rating to a “market perform” rating and set a $7.40 target price for the company. in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Akoustis Technologies currently has a consensus rating of “Buy” and a consensus target price of $9.73.

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. purchased a new position in shares of Akoustis Technologies in the second quarter valued at $41,000. Willingdon Wealth Management boosted its stake in shares of Akoustis Technologies by 1,952.5% in the second quarter. Willingdon Wealth Management now owns 8,210 shares of the technology company’s stock valued at $53,000 after purchasing an additional 7,810 shares during the period. Marshall Wace North America L.P. purchased a new position in shares of Akoustis Technologies in the first quarter valued at $97,000. Wells Fargo & Company MN boosted its stake in shares of Akoustis Technologies by 61.5% in the second quarter. Wells Fargo & Company MN now owns 25,523 shares of the technology company’s stock valued at $163,000 after purchasing an additional 9,723 shares during the period. Finally, Eagle Asset Management Inc. purchased a new position in shares of Akoustis Technologies in the second quarter valued at $179,000. Institutional investors and hedge funds 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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