Avidian Wealth Solutions LLC Purchases New Position in Akoustis Technologies, Inc. (NASDAQ:AKTS)

Avidian Wealth Solutions LLC purchased a new stake in Akoustis Technologies, Inc. (NASDAQ:AKTS) during the third quarter, HoldingsChannel.com reports. The firm purchased 10,500 shares of the technology company’s stock, valued at approximately $102,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in AKTS. Metropolitan Life Insurance Co NY grew its stake in Akoustis Technologies by 118,587.5% in the 2nd quarter. Metropolitan Life Insurance Co NY now owns 9,495 shares of the technology company’s stock valued at $102,000 after buying an additional 9,487 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Akoustis Technologies by 14.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 11,942 shares of the technology company’s stock valued at $115,000 after buying an additional 1,534 shares during the last quarter. ProShare Advisors LLC acquired a new position in shares of Akoustis Technologies during the 2nd quarter worth approximately $121,000. Invesco Ltd. acquired a new position in shares of Akoustis Technologies during the 2nd quarter worth approximately $125,000. Finally, SG Americas Securities LLC acquired a new position in shares of Akoustis Technologies during the 3rd quarter worth approximately $142,000. Institutional investors and hedge funds own 50.21% of the company’s stock.

AKTS has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Akoustis Technologies from a “sell” rating to a “hold” rating in a research report on Monday, January 3rd. Oppenheimer decreased their target price on shares of Akoustis Technologies from $18.00 to $13.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $14.30.

NASDAQ AKTS opened at $5.89 on Friday. The firm’s 50 day simple moving average is $6.89 and its 200 day simple moving average is $8.42. Akoustis Technologies, Inc. has a 1 year low of $5.70 and a 1 year high of $19.15.

Akoustis Technologies (NASDAQ:AKTS) last posted its quarterly earnings results on Sunday, October 31st. The technology company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.05). The firm had revenue of $1.87 million for the quarter, compared to analyst estimates of $1.97 million. Akoustis Technologies had a negative return on equity of 36.49% and a negative net margin of 573.95%. The business’s revenue was up 192.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.23) EPS. Equities analysts expect that Akoustis Technologies, Inc. will post -0.83 EPS for the current year.

In related news, Director Suzanne B. Rudy sold 12,731 shares of the stock in a transaction that occurred on Tuesday, November 9th. The shares were sold at an average price of $8.11, for a total value of $103,248.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur Geiss sold 10,000 shares of the stock in a transaction that occurred on Friday, October 29th. The shares were sold at an average price of $7.47, for a total transaction of $74,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 49,989 shares of company stock worth $359,627 in the last quarter. 5.70% of the stock is currently owned by company insiders.

Akoustis Technologies Profile

Akoustis Technologies, Inc is a filter solutions company, which engages in the development, design, and manufacture of radio frequency (RF) filter products. It operates through the Foundry Fabrication Services; and RF Filters segments. The Foundry Fabrication Services segment consists of engineering review services and STC-MEMS foundry services.

See Also: Why are percentage gainers important?

Want to see what other hedge funds are holding AKTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Akoustis Technologies, Inc. (NASDAQ:AKTS).

Institutional Ownership by Quarter for Akoustis Technologies (NASDAQ:AKTS)

Receive News & Ratings for Akoustis Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akoustis Technologies and related companies with MarketBeat.com's FREE daily email newsletter.