Quad Capital Management Advisors LLC purchased a new stake in Akoustis Technologies Inc (NASDAQ:AKTS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,323 shares of the technology company’s stock, valued at approximately $71,000.

Several other hedge funds also recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. lifted its stake in Akoustis Technologies by 26.3% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 16,800 shares of the technology company’s stock worth $83,000 after purchasing an additional 3,500 shares during the last quarter. IHT Wealth Management LLC lifted its stake in Akoustis Technologies by 25.5% during the fourth quarter. IHT Wealth Management LLC now owns 19,181 shares of the technology company’s stock worth $95,000 after purchasing an additional 3,900 shares during the last quarter. BlackRock Inc. lifted its stake in Akoustis Technologies by 4.2% during the fourth quarter. BlackRock Inc. now owns 41,547 shares of the technology company’s stock worth $206,000 after purchasing an additional 1,681 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Akoustis Technologies during the fourth quarter worth $230,000. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in Akoustis Technologies by 16.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 50,400 shares of the technology company’s stock worth $250,000 after purchasing an additional 7,200 shares during the last quarter. Institutional investors and hedge funds own 20.71% of the company’s stock.

Several equities research analysts have weighed in on the company. Craig Hallum assumed coverage on Akoustis Technologies in a research note on Tuesday, December 18th. They set a “buy” rating and a $8.00 target price for the company. Zacks Investment Research upgraded Akoustis Technologies from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Thursday, February 7th. Lake Street Capital assumed coverage on Akoustis Technologies in a research note on Friday, November 30th. They set a “buy” rating and a $10.00 target price for the company. Finally, Northland Securities cut Akoustis Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 5th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $9.86.

Shares of AKTS traded up $0.04 during trading hours on Thursday, reaching $5.99. The stock had a trading volume of 630 shares, compared to its average volume of 250,247. Akoustis Technologies Inc has a 12 month low of $3.40 and a 12 month high of $9.50. The company has a current ratio of 16.83, a quick ratio of 16.79 and a debt-to-equity ratio of 0.46.

Akoustis Technologies (NASDAQ:AKTS) last announced its quarterly earnings results on Monday, February 4th. The technology company reported ($0.24) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.24). Akoustis Technologies had a negative return on equity of 134.31% and a negative net margin of 2,327.82%. The company had revenue of $0.32 million during the quarter, compared to analysts’ expectations of $0.42 million. Sell-side analysts predict that Akoustis Technologies Inc will post -1.01 earnings per share for the current fiscal year.

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

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