Akoustis Technologies (NASDAQ:AKTS) Upgraded at Northland Securities

Northland Securities upgraded shares of Akoustis Technologies (NASDAQ:AKTS) from a market perform rating to an outperform rating in a research note released on Wednesday morning, Briefing.com Automated Import reports.

A number of other brokerages have also commented on AKTS. Zacks Investment Research lowered shares of EXACT Sciences from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Craig Hallum reiterated a buy rating and issued a $12.00 price target (up from $10.00) on shares of Akoustis Technologies in a research note on Monday, May 13th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $10.17.

Shares of AKTS stock opened at $5.75 on Wednesday. The business has a 50 day moving average of $6.54. Akoustis Technologies has a 52 week low of $3.40 and a 52 week high of $9.37. The company has a debt-to-equity ratio of 0.64, a current ratio of 12.78 and a quick ratio of 12.72.

Akoustis Technologies (NASDAQ:AKTS) last announced its quarterly earnings results on Friday, May 10th. The technology company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). Akoustis Technologies had a negative return on equity of 128.55% and a negative net margin of 2,879.43%. The company had revenue of $0.24 million during the quarter, compared to the consensus estimate of $0.67 million. Equities research analysts anticipate that Akoustis Technologies will post -1.13 EPS for the current fiscal year.

In related news, Director Steven Denbaars sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $5.63, for a total value of $39,410.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey B. Shealy sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $5.85, for a total transaction of $43,875.00. The disclosure for this sale can be found here. Insiders sold 24,000 shares of company stock valued at $149,320 over the last quarter. Company insiders own 22.60% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace North America L.P. purchased a new position in shares of Akoustis Technologies in the first quarter worth approximately $97,000. Connors Investor Services Inc. purchased a new position in shares of Akoustis Technologies in the first quarter worth approximately $217,000. Laurion Capital Management LP boosted its holdings in shares of Akoustis Technologies by 121.7% in the first quarter. Laurion Capital Management LP now owns 132,038 shares of the technology company’s stock worth $767,000 after buying an additional 72,479 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in shares of Akoustis Technologies by 1,023.9% in the first quarter. FNY Investment Advisers LLC now owns 78,739 shares of the technology company’s stock worth $457,000 after buying an additional 71,733 shares during the last quarter. Finally, Tibra Equities Europe Ltd purchased a new position in shares of Akoustis Technologies in the first quarter worth approximately $310,000. 22.65% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Akoustis Technologies (NASDAQ:AKTS)

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