Akoustis Technologies Inc (NASDAQ:AKTS) shares fell 13.2% during mid-day trading on Thursday . The company traded as low as $5.00 and last traded at $5.01. 729,840 shares were traded during trading, an increase of 479% from the average session volume of 125,970 shares. The stock had previously closed at $5.77.

A number of research firms recently issued reports on AKTS. Oppenheimer began coverage on shares of Akoustis Technologies in a research report on Thursday, August 30th. They set an “outperform” rating and a $10.00 target price for the company. Piper Jaffray Companies began coverage on shares of Akoustis Technologies in a research report on Wednesday, October 10th. They set a “buy” rating and a $10.00 target price for the company. Six research analysts have rated the stock with a buy rating, Akoustis Technologies currently has an average rating of “Buy” and a consensus target price of $12.08.

The company has a debt-to-equity ratio of 0.83, a quick ratio of 5.99 and a current ratio of 6.01.

In other Akoustis Technologies news, CEO Jeffrey B. Shealy sold 7,200 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $7.67, for a total value of $55,224.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John T. Kurtzweil sold 12,500 shares of the company’s stock in a transaction dated Friday, September 28th. The stock was sold at an average price of $8.08, for a total transaction of $101,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,193 shares of company stock valued at $379,560. Insiders own 22.60% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its position in shares of Akoustis Technologies by 13.1% in the first quarter. BlackRock Inc. now owns 452,865 shares of the technology company’s stock worth $2,639,000 after acquiring an additional 52,572 shares during the period. Millennium Management LLC increased its stake in shares of Akoustis Technologies by 145.4% during the second quarter. Millennium Management LLC now owns 301,087 shares of the technology company’s stock worth $2,189,000 after purchasing an additional 178,419 shares in the last quarter. Financial Advocates Investment Management increased its stake in shares of Akoustis Technologies by 14.6% during the second quarter. Financial Advocates Investment Management now owns 259,150 shares of the technology company’s stock worth $1,884,000 after purchasing an additional 33,000 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Akoustis Technologies by 3,061.7% during the second quarter. Salem Investment Counselors Inc. now owns 142,275 shares of the technology company’s stock worth $1,034,000 after purchasing an additional 137,775 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of Akoustis Technologies by 36.3% during the first quarter. Northern Trust Corp now owns 134,222 shares of the technology company’s stock worth $783,000 after purchasing an additional 35,713 shares in the last quarter. Institutional investors and hedge funds own 14.53% of the company’s stock.

About Akoustis Technologies (NASDAQ:AKTS)

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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