Paloma Partners Management Co Acquires Shares of 58,299 Akoustis Technologies Inc (AKTS)

Paloma Partners Management Co acquired a new stake in shares of Akoustis Technologies Inc (NASDAQ:AKTS) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 58,299 shares of the technology company’s stock, valued at approximately $424,000. Paloma Partners Management Co owned approximately 0.26% of Akoustis Technologies as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AKTS. Essex Investment Management Co. LLC bought a new stake in Akoustis Technologies during the 2nd quarter valued at about $742,000. MYDA Advisors LLC bought a new stake in Akoustis Technologies during the 2nd quarter valued at about $611,000. Thompson Davis & CO. Inc. increased its stake in Akoustis Technologies by 639.4% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 86,883 shares of the technology company’s stock valued at $632,000 after purchasing an additional 75,133 shares in the last quarter. Financial Advocates Investment Management increased its stake in Akoustis Technologies by 43.2% during the 1st quarter. Financial Advocates Investment Management now owns 226,150 shares of the technology company’s stock valued at $1,318,000 after purchasing an additional 68,200 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Akoustis Technologies by 13.1% during the 1st quarter. BlackRock Inc. now owns 452,865 shares of the technology company’s stock valued at $2,639,000 after purchasing an additional 52,572 shares in the last quarter. Institutional investors and hedge funds own 14.58% of the company’s stock.

Shares of NASDAQ AKTS opened at $7.95 on Wednesday. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.01 and a quick ratio of 5.99. Akoustis Technologies Inc has a 52-week low of $4.86 and a 52-week high of $9.50.

A number of analysts have recently issued reports on AKTS shares. Roth Capital started coverage on shares of Akoustis Technologies in a report on Tuesday, June 12th. They set a “buy” rating and a $8.00 price target on the stock. Loop Capital started coverage on shares of Akoustis Technologies in a report on Thursday, June 21st. They set a “buy” rating and a $15.00 price target on the stock. Finally, Oppenheimer started coverage on shares of Akoustis Technologies in a report on Thursday, August 30th. They set an “outperform” rating and a $10.00 price target on the stock. Five research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus target price of $12.50.

In other news, VP David Aichele sold 3,700 shares of the firm’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $7.68, for a total transaction of $28,416.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Jeffrey Mcmahon sold 3,230 shares of the firm’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $8.24, for a total transaction of $26,615.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,130 shares of company stock worth $110,255. Insiders own 22.60% of the company’s stock.

Akoustis Technologies Profile

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.

Further Reading: What is a closed-end mutual fund (CEF)?

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

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