Akoustis Technologies Inc (NASDAQ:AKTS) Director Jeffrey Mcmahon sold 3,230 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $8.24, for a total transaction of $26,615.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of AKTS opened at $7.91 on Thursday. The company has a current ratio of 6.01, a quick ratio of 5.99 and a debt-to-equity ratio of 0.83. Akoustis Technologies Inc has a one year low of $4.86 and a one year high of $9.50.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Providence Capital Advisors LLC increased its stake in shares of Akoustis Technologies by 10.8% during the second quarter. Providence Capital Advisors LLC now owns 73,778 shares of the technology company’s stock valued at $536,000 after purchasing an additional 7,205 shares in the last quarter. D.A. Davidson & CO. increased its stake in shares of Akoustis Technologies by 18.8% during the second quarter. D.A. Davidson & CO. now owns 113,500 shares of the technology company’s stock valued at $825,000 after purchasing an additional 18,000 shares in the last quarter. UBS Group AG increased its stake in shares of Akoustis Technologies by 28.8% during the first quarter. UBS Group AG now owns 83,274 shares of the technology company’s stock valued at $485,000 after purchasing an additional 18,634 shares in the last quarter. LMR Partners LLP bought a new position in shares of Akoustis Technologies during the second quarter valued at approximately $216,000. Finally, 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 valued at $1,884,000 after purchasing an additional 33,000 shares in the last quarter. 14.58% of the stock is owned by institutional investors and hedge funds.

Several analysts have commented on AKTS shares. Loop Capital started coverage on shares of Akoustis Technologies in a report on Thursday, June 21st. They issued a “buy” rating and a $15.00 price objective for the company. Roth Capital raised their price objective on shares of Akoustis Technologies to $10.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Finally, Oppenheimer started coverage on shares of Akoustis Technologies in a report on Thursday, August 30th. They issued an “outperform” rating and a $10.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, Akoustis Technologies has a consensus rating of “Buy” and a consensus price target of $12.50.

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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