Akoustis Technologies Inc (NASDAQ:AKTS) Insider Sells $14,700.00 in Stock

Akoustis Technologies Inc (NASDAQ:AKTS) insider Rohan Houlden sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $5.88, for a total transaction of $14,700.00. The sale was disclosed in a filing with the SEC, which is available through this link.

NASDAQ:AKTS opened at $5.52 on Friday. The company has a quick ratio of 12.72, a current ratio of 12.78 and a debt-to-equity ratio of 0.64. Akoustis Technologies Inc has a 12 month low of $3.40 and a 12 month high of $9.14. The stock has a 50 day moving average of $6.36.

Akoustis Technologies (NASDAQ:AKTS) last posted its earnings results on Friday, May 10th. The technology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). Akoustis Technologies had a negative return on equity of 128.55% and a negative net margin of 2,879.43%. The company had revenue of $0.24 million during the quarter, compared to the consensus estimate of $0.67 million. On average, sell-side analysts forecast that Akoustis Technologies Inc will post -1.13 earnings per share for the current year.



Large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Akoustis Technologies by 4.2% in the fourth quarter. BlackRock Inc. now owns 41,547 shares of the technology company’s stock worth $206,000 after purchasing an additional 1,681 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Akoustis Technologies during the fourth quarter valued at $230,000. Commonwealth Equity Services LLC lifted its stake in shares of Akoustis Technologies by 350.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 193,309 shares of the technology company’s stock valued at $960,000 after acquiring an additional 150,410 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Akoustis Technologies by 26.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,800 shares of the technology company’s stock valued at $83,000 after acquiring an additional 3,500 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Akoustis Technologies by 179.9% during the fourth quarter. Northern Trust Corp now owns 57,261 shares of the technology company’s stock valued at $285,000 after acquiring an additional 36,801 shares during the period. 22.65% of the stock is owned by institutional investors and hedge funds.

AKTS has been the subject of several analyst reports. Craig Hallum reissued a “buy” rating and set a $12.00 price target (up previously from $10.00) on shares of Akoustis Technologies in a research report on Monday, May 13th. Zacks Investment Research downgraded shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Northland Securities raised shares of Akoustis Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $10.17.

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.

Further Reading: Understanding Market Liquidity

Insider Buying and Selling by Quarter for Akoustis Technologies (NASDAQ:AKTS)

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