Akoustis Technologies Inc (NASDAQ:AKTS) Director Arthur Geiss acquired 3,850 shares of the company’s stock in a transaction dated Thursday, November 8th. The stock was acquired at an average cost of $5.20 per share, with a total value of $20,020.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
AKTS traded up $0.16 during trading hours on Friday, reaching $4.96. 454,546 shares of the stock traded hands, compared to its average volume of 800,072. Akoustis Technologies Inc has a fifty-two week low of $3.40 and a fifty-two week high of $9.50. The company has a quick ratio of 5.99, a current ratio of 4.81 and a debt-to-equity ratio of 1.30.
Several research firms have recently issued reports on AKTS. Loop Capital dropped their price objective on shares of Akoustis Technologies from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Oppenheimer began 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 for the company. Finally, Piper Jaffray Companies began 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 for the company. Six research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $11.42.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKTS. LMR Partners LLP acquired a new stake in Akoustis Technologies during the 2nd quarter valued at $216,000. Benjamin F. Edwards & Company Inc. acquired a new stake in Akoustis Technologies during the 3rd quarter valued at $340,000. Paloma Partners Management Co acquired a new stake in Akoustis Technologies during the 2nd quarter valued at $424,000. UBS Group AG grew its holdings in Akoustis Technologies by 28.8% during the 1st quarter. UBS Group AG now owns 83,274 shares of the technology company’s stock valued at $485,000 after purchasing an additional 18,634 shares in the last quarter. Finally, Providence Capital Advisors LLC grew its holdings in Akoustis Technologies by 10.8% during the 2nd quarter. Providence Capital Advisors LLC now owns 73,778 shares of the technology company’s stock valued at $536,000 after purchasing an additional 7,205 shares in the last quarter. 14.64% of the stock is owned by institutional investors and hedge funds.
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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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