Arthur Geiss Sells 2,498 Shares of Akoustis Technologies, Inc. (NASDAQ:AKTS) Stock

Akoustis Technologies, Inc. (NASDAQ:AKTS) Director Arthur Geiss sold 2,498 shares of Akoustis Technologies stock in a transaction on Friday, January 8th. The shares were sold at an average price of $14.00, for a total value of $34,972.00. Following the completion of the transaction, the director now owns 112,640 shares in the company, valued at approximately $1,576,960. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Arthur Geiss also recently made the following trade(s):

  • On Wednesday, November 11th, Arthur Geiss sold 9,343 shares of Akoustis Technologies stock. The shares were sold at an average price of $7.85, for a total value of $73,342.55.
  • On Monday, November 9th, Arthur Geiss sold 463 shares of Akoustis Technologies stock. The shares were sold at an average price of $8.51, for a total value of $3,940.13.

AKTS opened at $13.04 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 9.40 and a quick ratio of 9.34. Akoustis Technologies, Inc. has a fifty-two week low of $3.76 and a fifty-two week high of $14.24. The company’s 50 day moving average price is $10.49 and its two-hundred day moving average price is $8.71. The firm has a market capitalization of $503.71 million, a price-to-earnings ratio of -11.96 and a beta of 1.63.

Akoustis Technologies (NASDAQ:AKTS) last issued its quarterly earnings results on Sunday, November 8th. The technology company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.08). The business had revenue of $0.64 million for the quarter, compared to analyst estimates of $0.54 million. Akoustis Technologies had a negative return on equity of 72.62% and a negative net margin of 2,077.27%. As a group, equities research analysts predict that Akoustis Technologies, Inc. will post -0.73 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can grew its position in shares of Akoustis Technologies by 247.9% in the 2nd quarter. Bank of Montreal Can now owns 3,465 shares of the technology company’s stock valued at $28,000 after buying an additional 2,469 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Akoustis Technologies in the second quarter worth approximately $31,000. Advisor Group Holdings Inc. boosted its holdings in Akoustis Technologies by 111.9% in the second quarter. Advisor Group Holdings Inc. now owns 3,921 shares of the technology company’s stock valued at $32,000 after acquiring an additional 2,071 shares during the last quarter. Sowell Financial Services LLC increased its position in Akoustis Technologies by 31.9% during the 4th quarter. Sowell Financial Services LLC now owns 3,949 shares of the technology company’s stock valued at $48,000 after purchasing an additional 954 shares during the period. Finally, BNP Paribas Arbitrage SA raised its holdings in Akoustis Technologies by 449.3% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,454 shares of the technology company’s stock worth $61,000 after purchasing an additional 6,097 shares during the last quarter. 38.22% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently weighed in on AKTS. Loop Capital raised their price target on shares of Akoustis Technologies from $11.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, January 5th. BidaskClub upgraded shares of Akoustis Technologies from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 18th. Zacks Investment Research downgraded shares of Akoustis Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, December 1st. Finally, Roth Capital raised their price objective on Akoustis Technologies from $12.00 to $16.00 and gave the company a “buy” rating in a report on Monday, January 4th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $13.00.

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 industry in the United States. It operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and semiconductor wafer-manufacturing and microelectromechanical systems foundry services.

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