Paloma Partners Management Co acquired a new position in Akoustis Technologies Inc (NASDAQ:AKTS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 58,299 shares of the technology company’s stock, valued at approximately $424,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Providence Capital Advisors LLC lifted its holdings in 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. lifted its holdings in 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 lifted its holdings in 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 purchased a new position in Akoustis Technologies during the second quarter valued at approximately $216,000. Finally, Financial Advocates Investment Management lifted its holdings in 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 currently owned by institutional investors.

Several equities analysts have weighed in on the stock. Oppenheimer assumed coverage on shares of Akoustis Technologies in a report on Thursday, August 30th. They set an “outperform” rating and a $10.00 price target on the stock. Roth Capital lifted their price target on shares of Akoustis Technologies to $10.00 and gave the company a “buy” rating in a report on Thursday, June 21st. Finally, Loop Capital assumed coverage on shares of Akoustis Technologies in a report on Thursday, June 21st. They set a “buy” rating and a $15.00 price target on the stock. Five analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $12.50.

Akoustis Technologies stock opened at $7.95 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 5.99 and a current ratio of 6.01. Akoustis Technologies Inc has a 1 year low of $4.86 and a 1 year high of $9.50.

In other news, CEO Jeffrey B. Shealy sold 7,200 shares of Akoustis Technologies stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $7.67, for a total transaction of $55,224.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David Aichele sold 3,700 shares of Akoustis Technologies stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $7.68, for a total transaction of $28,416.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,130 shares of company stock worth $110,255. Company insiders own 22.60% of the company’s stock.

Akoustis Technologies 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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Institutional Ownership by Quarter for Akoustis Technologies (NASDAQ:AKTS)

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