Akoustis Technologies, Inc. (NASDAQ:AKTS) Director Steven Denbaars Sells 7,000 Shares

Akoustis Technologies, Inc. (NASDAQ:AKTS) Director Steven Denbaars sold 7,000 shares of the business’s stock in a transaction dated Tuesday, January 11th. The stock was sold at an average price of $5.91, for a total transaction of $41,370.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of AKTS opened at $5.89 on Friday. The company has a 50-day moving average of $6.89 and a two-hundred day moving average of $8.42. Akoustis Technologies, Inc. has a 12-month low of $5.70 and a 12-month high of $19.15.

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

Large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in shares of Akoustis Technologies by 323.4% in the third quarter. BNP Paribas Arbitrage SA now owns 7,752 shares of the technology company’s stock valued at $75,000 after buying an additional 5,921 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of Akoustis Technologies by 118,587.5% in the second 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. Two Sigma Investments LP acquired a new position in shares of Akoustis Technologies in the third quarter valued at approximately $100,000. LPL Financial LLC purchased a new stake in Akoustis Technologies in the third quarter valued at approximately $100,000. Finally, Avidian Wealth Solutions LLC purchased a new stake in Akoustis Technologies in the third quarter valued at approximately $102,000. 50.21% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently commented on the stock. Zacks Investment Research raised shares of Akoustis Technologies from a “sell” rating to a “hold” rating in a report on Monday, January 3rd. Oppenheimer decreased their price objective on shares of Akoustis Technologies from $18.00 to $13.00 and set an “outperform” rating on the stock in a report on Tuesday, November 2nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $14.30.

About Akoustis Technologies

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.

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

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