Akoustis Technologies Inc (AKTS) Director Sells $26,615.20 in Stock

Akoustis Technologies Inc (NASDAQ:AKTS) Director Jeffrey Mcmahon sold 3,230 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was sold at an average price of $8.24, for a total transaction of $26,615.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Akoustis Technologies stock opened at $7.91 on Thursday. Akoustis Technologies Inc has a fifty-two week low of $4.86 and a fifty-two week high of $9.50. The company has a debt-to-equity ratio of 0.83, a quick ratio of 5.99 and a current ratio of 6.01.

Several research analysts have recently weighed in on the stock. Loop Capital assumed coverage on shares of Akoustis Technologies in a report on Thursday, June 21st. They issued a “buy” rating and a $15.00 price target on the stock. Roth Capital upped their price target on shares of Akoustis Technologies to $10.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Finally, Oppenheimer assumed coverage on shares of Akoustis Technologies in a report on Thursday, August 30th. They issued an “outperform” rating and a $10.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and a consensus price target of $12.50.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AKTS. Millennium Management LLC increased its stake in Akoustis Technologies by 145.4% in the second quarter. Millennium Management LLC now owns 301,087 shares of the technology company’s stock valued at $2,189,000 after acquiring an additional 178,419 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in Akoustis Technologies by 3,061.7% in the second quarter. Salem Investment Counselors Inc. now owns 142,275 shares of the technology company’s stock valued at $1,034,000 after acquiring an additional 137,775 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in Akoustis Technologies in the second quarter valued at $742,000. MYDA Advisors LLC bought a new position in Akoustis Technologies in the second quarter valued at $611,000. Finally, Thompson Davis & CO. Inc. increased its stake in Akoustis Technologies by 639.4% in the second quarter. Thompson Davis & CO. Inc. now owns 86,883 shares of the technology company’s stock valued at $632,000 after acquiring an additional 75,133 shares during the last quarter. 14.58% of the stock is currently owned by institutional investors and hedge funds.

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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