Akoustis Technologies Target of Unusually High Options Trading (NASDAQ:AKTS)

Akoustis Technologies Inc (NASDAQ:AKTS) was the target of unusually large options trading on Monday. Traders bought 1,052 put options on the stock. This represents an increase of 1,152% compared to the typical volume of 84 put options.

Shares of Akoustis Technologies stock opened at $8.02 on Wednesday. Akoustis Technologies has a fifty-two week low of $3.76 and a fifty-two week high of $9.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.52 and a current ratio of 7.54. The firm has a 50-day simple moving average of $8.04 and a two-hundred day simple moving average of $7.46. The company has a market cap of $293.88 million, a P/E ratio of -7.43 and a beta of 1.65.

Akoustis Technologies (NASDAQ:AKTS) last posted its quarterly earnings results on Monday, August 24th. The technology company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.25) by ($0.02). The firm had revenue of $0.37 million during the quarter, compared to analysts’ expectations of $0.43 million. Akoustis Technologies had a negative net margin of 2,018.99% and a negative return on equity of 81.49%. Equities research analysts forecast that Akoustis Technologies will post -0.69 EPS for the current year.

In other Akoustis Technologies news, CEO Jeffrey B. Shealy sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $8.42, for a total transaction of $210,500.00. Following the completion of the transaction, the chief executive officer now owns 2,921,062 shares of the company’s stock, valued at approximately $24,595,342.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeffrey Mcmahon sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were sold at an average price of $8.04, for a total value of $160,800.00. Following the transaction, the director now directly owns 514,338 shares of the company’s stock, valued at approximately $4,135,277.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,350 shares of company stock valued at $446,832. 18.00% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of AKTS. BlackRock Inc. grew its position in Akoustis Technologies by 5.9% during the 1st quarter. BlackRock Inc. now owns 1,833,533 shares of the technology company’s stock worth $9,846,000 after purchasing an additional 101,991 shares during the last quarter. Handelsbanken Fonder AB acquired a new stake in shares of Akoustis Technologies in the second quarter valued at about $6,632,000. Needham Investment Management LLC acquired a new stake in shares of Akoustis Technologies in the first quarter valued at about $3,222,000. Geode Capital Management LLC raised its position in Akoustis Technologies by 40.3% during the first quarter. Geode Capital Management LLC now owns 478,523 shares of the technology company’s stock worth $2,569,000 after acquiring an additional 137,524 shares during the last quarter. Finally, State Street Corp raised its position in Akoustis Technologies by 7.5% during the first quarter. State Street Corp now owns 457,728 shares of the technology company’s stock worth $2,458,000 after acquiring an additional 31,809 shares during the last quarter. 38.77% of the stock is currently owned by hedge funds and other institutional investors.

AKTS has been the topic of several recent analyst reports. BidaskClub downgraded Akoustis Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 5th. Roth Capital reaffirmed a “buy” rating and issued a $12.00 target price (up from $10.00) on shares of Akoustis Technologies in a report on Monday, August 24th. Finally, Zacks Investment Research lowered Akoustis Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Akoustis Technologies presently has an average rating of “Hold” and a consensus target price of $9.80.

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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