Akoustis Technologies Inc (AKTS) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Akoustis Technologies Inc (NASDAQ:AKTS) have been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $9.86.
A number of equities research analysts have recently commented on the company. Zacks Investment Research upgraded Akoustis Technologies from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Thursday, February 7th. Northland Securities downgraded Akoustis Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 5th. Finally, Craig Hallum reiterated a “buy” rating and set a $10.00 price objective (up previously from $8.00) on shares of Akoustis Technologies in a research report on Tuesday, February 5th.
NASDAQ AKTS traded up $0.16 on Wednesday, reaching $6.50. 322,400 shares of the stock traded hands, compared to its average volume of 232,293. The company has a quick ratio of 16.79, a current ratio of 16.83 and a debt-to-equity ratio of 0.46. Akoustis Technologies has a 12 month low of $3.40 and a 12 month high of $9.50.
Several large investors have recently made changes to their positions in AKTS. UBS Oconnor LLC acquired a new stake in shares of Akoustis Technologies during the 4th quarter valued at $1,138,000. Commonwealth Equity Services LLC lifted its holdings in shares of Akoustis Technologies by 350.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 193,309 shares of the technology company’s stock valued at $960,000 after purchasing an additional 150,410 shares in the last quarter. Barclays PLC lifted its holdings in shares of Akoustis Technologies by 25,725.0% in the fourth quarter. Barclays PLC now owns 103,300 shares of the technology company’s stock valued at $513,000 after purchasing an additional 102,900 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Akoustis Technologies by 123.7% in the fourth quarter. Geode Capital Management LLC now owns 171,869 shares of the technology company’s stock valued at $854,000 after purchasing an additional 95,038 shares in the last quarter. Finally, Financial Advocates Investment Management lifted its holdings in shares of Akoustis Technologies by 51.5% in the fourth quarter. Financial Advocates Investment Management now owns 220,650 shares of the technology company’s stock valued at $1,097,000 after purchasing an additional 75,000 shares in the last quarter. Institutional investors own 20.71% of the company’s stock.
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 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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