Akoustis Technologies Inc (NASDAQ:AKTS) CEO Jeffrey B. Shealy Sells 7,500 Shares

Akoustis Technologies Inc (NASDAQ:AKTS) CEO Jeffrey B. Shealy sold 7,500 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $5.85, for a total value of $43,875.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

AKTS traded up $0.07 during midday trading on Friday, hitting $5.52. 499,935 shares of the company were exchanged, compared to its average volume of 711,443. The business has a 50 day moving average of $6.36. The company has a debt-to-equity ratio of 0.64, a quick ratio of 12.72 and a current ratio of 12.78. Akoustis Technologies Inc has a 1-year low of $3.40 and a 1-year high of $9.14.

Akoustis Technologies (NASDAQ:AKTS) last posted its earnings results on Friday, May 10th. The technology company reported ($0.26) 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 for the quarter, compared to analyst estimates of $0.67 million. Analysts forecast that Akoustis Technologies Inc will post -1.13 EPS for the current year.

Several equities analysts recently issued reports on the company. Craig Hallum reissued a “buy” rating and issued a $12.00 target price (up from $10.00) on shares of Akoustis Technologies in a research report on Monday, May 13th. Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Northland Securities raised Akoustis Technologies from a “market perform” rating to an “outperform” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Akoustis Technologies currently has a consensus rating of “Buy” and a consensus price target of $10.17.

Large investors have recently bought and sold shares of the company. Quad Capital Management Advisors LLC acquired a new stake in shares of Akoustis Technologies during the 4th quarter valued at about $71,000. Marshall Wace North America L.P. purchased a new position in Akoustis Technologies in the 1st quarter valued at about $97,000. Raymond James Financial Services Advisors Inc. lifted its stake in Akoustis Technologies by 26.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 16,800 shares of the technology company’s stock valued at $83,000 after buying an additional 3,500 shares in the last quarter. IHT Wealth Management LLC lifted its stake in Akoustis Technologies by 25.5% in the 4th quarter. IHT Wealth Management LLC now owns 19,181 shares of the technology company’s stock valued at $95,000 after buying an additional 3,900 shares in the last quarter. Finally, Connors Investor Services Inc. purchased a new position in Akoustis Technologies in the 1st quarter valued at about $217,000. Hedge funds and other institutional investors own 22.65% 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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