Northland Securities restated their hold rating on shares of Akoustis Technologies (NASDAQ:AKTS) in a report issued on Friday morning, AnalystRatings.com reports. Northland Securities currently has a $7.40 target price on the technology company’s stock.
A number of other equities analysts also recently issued reports on AKTS. Oppenheimer set a $10.00 price target on Akoustis Technologies and gave the stock a buy rating in a research note on Wednesday, September 18th. Zacks Investment Research upgraded Akoustis Technologies from a hold rating to a buy rating and set a $9.50 price target on the stock in a research note on Monday, October 28th. Finally, BidaskClub downgraded Akoustis Technologies from a hold rating to a sell rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. Akoustis Technologies presently has a consensus rating of Buy and a consensus price target of $9.78.
Shares of AKTS stock traded down $0.21 on Friday, reaching $7.13. The stock had a trading volume of 237,090 shares, compared to its average volume of 394,744. Akoustis Technologies has a 1 year low of $4.33 and a 1 year high of $9.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 9.87 and a current ratio of 9.89. The company has a 50 day simple moving average of $7.99 and a 200 day simple moving average of $6.97.
In related news, VP David Aichele sold 10,250 shares of Akoustis Technologies stock in a transaction on Monday, October 7th. The stock was sold at an average price of $7.74, for a total transaction of $79,335.00. Also, Director Steven Denbaars sold 7,000 shares of Akoustis Technologies stock in a transaction on Monday, October 7th. The shares were sold at an average price of $7.72, for a total value of $54,040.00. Over the last 90 days, insiders sold 63,650 shares of company stock worth $496,786. Company insiders own 18.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. lifted its position in Akoustis Technologies by 10.6% during the third quarter. D.A. Davidson & CO. now owns 104,000 shares of the technology company’s stock valued at $806,000 after purchasing an additional 10,000 shares in the last quarter. Trellus Management Company LLC purchased a new position in Akoustis Technologies during the third quarter valued at $161,000. Commonwealth Equity Services LLC lifted its position in Akoustis Technologies by 7.1% during the third quarter. Commonwealth Equity Services LLC now owns 237,258 shares of the technology company’s stock valued at $1,838,000 after purchasing an additional 15,744 shares in the last quarter. Connors Investor Services Inc. lifted its position in Akoustis Technologies by 9.1% during the third quarter. Connors Investor Services Inc. now owns 47,906 shares of the technology company’s stock valued at $371,000 after purchasing an additional 4,000 shares in the last quarter. Finally, CWM LLC purchased a new position in Akoustis Technologies during the third quarter valued at $44,000. Institutional investors own 36.75% 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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