Insider Selling: Akoustis Technologies Inc (AKTS) Major Shareholder Sells $78,500.00 in Stock

Akoustis Technologies Inc (NASDAQ:AKTS) major shareholder Mark N. Tompkins sold 12,500 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $6.28, for a total transaction of $78,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Shares of Akoustis Technologies Inc (NASDAQ AKTS) traded down $0.22 during midday trading on Friday, hitting $6.23. 77,838 shares of the stock were exchanged, compared to its average volume of 78,997. Akoustis Technologies Inc has a 1-year low of $4.91 and a 1-year high of $14.00.

Akoustis Technologies (NASDAQ:AKTS) last issued its earnings results on Tuesday, November 14th. The technology company reported ($0.24) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.11). The business had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.70 million. Akoustis Technologies had a negative net margin of 1,462.20% and a negative return on equity of 115.56%. sell-side analysts anticipate that Akoustis Technologies Inc will post -0.34 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. EAM Investors LLC raised its position in shares of Akoustis Technologies by 19.0% in the second quarter. EAM Investors LLC now owns 47,609 shares of the technology company’s stock valued at $416,000 after buying an additional 7,590 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of Akoustis Technologies by 82.4% in the second quarter. D.A. Davidson & CO. now owns 31,000 shares of the technology company’s stock valued at $270,000 after buying an additional 14,000 shares during the last quarter. California State Teachers Retirement System acquired a new stake in shares of Akoustis Technologies in the second quarter valued at about $135,000. IHT Wealth Management LLC acquired a new stake in shares of Akoustis Technologies in the second quarter valued at about $133,000. Finally, Schwab Charles Investment Management Inc. acquired a new stake in shares of Akoustis Technologies in the second quarter valued at about $185,000. Institutional investors and hedge funds own 10.83% of the company’s stock.

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About Akoustis Technologies

Akoustis Technologies, Inc, formerly Danlax, Corp., is a fabless company engaged in developing, designing and manufacturing radio frequency (RF) filter products for the mobile wireless device industry. The Company operates in the telecommunications and fiber optics sector. The Company is focused on commercializing and manufacturing its Bulk ONE acoustic wave technology to address the critical frequency-selectivity requirements in mobile smartphones.

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

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