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

AKTS has been the subject of several other reports. Zacks Investment Research cut EXACT Sciences from a hold rating to a sell rating in a report on Tuesday, July 2nd. Craig Hallum reissued a buy rating and set a $12.00 price objective (up from $10.00) on shares of Akoustis Technologies in a report on Monday, May 13th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $10.17.

Akoustis Technologies stock opened at $5.75 on Wednesday. The firm has a 50-day simple moving average of $6.54. 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 has a 12-month low of $3.40 and a 12-month high of $9.37.

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

In other Akoustis Technologies news, CEO Jeffrey B. Shealy sold 7,500 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $5.85, for a total transaction of $43,875.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven Denbaars sold 7,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $6.58, for a total value of $46,060.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,000 shares of company stock valued at $149,320 over the last three months. Company insiders own 22.60% of the company’s stock.

Large investors have recently made changes to their positions in the business. UBS Oconnor LLC acquired a new position in shares of Akoustis Technologies during the 4th quarter worth about $1,138,000. Financial Advocates Investment Management grew its position in shares of Akoustis Technologies by 51.5% during the 4th quarter. Financial Advocates Investment Management now owns 220,650 shares of the technology company’s stock worth $1,097,000 after buying an additional 75,000 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Akoustis Technologies by 350.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 193,309 shares of the technology company’s stock worth $960,000 after buying an additional 150,410 shares during the period. Geode Capital Management LLC grew its position in shares of Akoustis Technologies by 123.7% during the 4th quarter. Geode Capital Management LLC now owns 171,869 shares of the technology company’s stock worth $854,000 after buying an additional 95,038 shares during the period. Finally, Laurion Capital Management LP grew its position in shares of Akoustis Technologies by 121.7% during the 1st 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 period. 22.65% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Akoustis Technologies (NASDAQ:AKTS)

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