Perkins Capital Management Inc. Sells 10,350 Shares of Akoustis Technologies Inc (AKTS)

Perkins Capital Management Inc. reduced its position in shares of Akoustis Technologies Inc (NASDAQ:AKTS) by 9.1% in the first quarter, HoldingsChannel.com reports. The firm owned 103,050 shares of the technology company’s stock after selling 10,350 shares during the quarter. Perkins Capital Management Inc.’s holdings in Akoustis Technologies were worth $599,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Quad Capital Management Advisors LLC purchased a new position in shares of Akoustis Technologies during the 4th quarter valued at about $71,000. Raymond James Financial Services Advisors Inc. lifted its position in shares of Akoustis Technologies by 26.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,800 shares of the technology company’s stock valued at $83,000 after buying an additional 3,500 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of Akoustis Technologies by 25.5% during the 4th quarter. IHT Wealth Management LLC now owns 19,181 shares of the technology company’s stock valued at $95,000 after buying an additional 3,900 shares in the last quarter. BlackRock Inc. lifted its position in shares of Akoustis Technologies by 4.2% during the 4th quarter. BlackRock Inc. now owns 41,547 shares of the technology company’s stock valued at $206,000 after buying an additional 1,681 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Akoustis Technologies during the 4th quarter valued at about $230,000. Institutional investors and hedge funds own 20.89% of the company’s stock.

A number of research analysts have recently weighed in on AKTS shares. Northland Securities cut Akoustis Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 5th. Craig Hallum reaffirmed a “buy” rating and set a $10.00 price objective (up from $8.00) on shares of Akoustis Technologies in a research report on Tuesday, February 5th. Finally, Zacks Investment Research raised Akoustis Technologies from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Thursday, February 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $9.86.

NASDAQ AKTS opened at $6.62 on Tuesday. The company has a quick ratio of 16.79, a current ratio of 16.83 and a debt-to-equity ratio of 0.46. Akoustis Technologies Inc has a 12 month low of $3.40 and a 12 month high of $9.50.

Akoustis Technologies (NASDAQ:AKTS) last posted its quarterly earnings results on Monday, February 4th. The technology company reported ($0.24) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.24). The company had revenue of $0.32 million for the quarter, compared to analysts’ expectations of $0.42 million. Akoustis Technologies had a negative return on equity of 134.31% and a negative net margin of 2,327.82%. On average, equities research analysts predict that Akoustis Technologies Inc will post -1.01 earnings per share for the current fiscal year.

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Akoustis Technologies Company 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: How are institutional investors different from individual investors?

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

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