Brokerages Set Akoustis Technologies Inc (AKTS) Price Target at $11.42

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Akoustis Technologies Inc (NASDAQ:AKTS) has been given an average recommendation of “Buy” by the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $11.42.

A number of brokerages have issued reports on AKTS. Oppenheimer began coverage on Akoustis Technologies in a report on Thursday, August 30th. They set an “outperform” rating and a $10.00 target price on the stock. Piper Jaffray Companies began coverage on Akoustis Technologies in a report on Wednesday, October 10th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Loop Capital reduced their target price on Akoustis Technologies from $15.00 to $11.00 and set a “buy” rating on the stock in a report on Friday, November 2nd.

In other news, Director Jeffrey Mcmahon sold 3,230 shares of Akoustis Technologies stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $8.24, for a total transaction of $26,615.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP David Aichele sold 3,700 shares of Akoustis Technologies stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $7.68, for a total value of $28,416.00. The disclosure for this sale can be found here. Insiders have sold a total of 49,193 shares of company stock worth $379,560 in the last quarter. 22.60% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in AKTS. Mission Wealth Management LP bought a new position in shares of Akoustis Technologies during the 3rd quarter valued at about $2,361,000. Millennium Management LLC raised its position in Akoustis Technologies by 145.4% in the 2nd quarter. Millennium Management LLC now owns 301,087 shares of the technology company’s stock valued at $2,189,000 after buying an additional 178,419 shares during the last quarter. Salem Investment Counselors Inc. raised its position in Akoustis Technologies by 3,061.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 142,275 shares of the technology company’s stock valued at $1,034,000 after buying an additional 137,775 shares during the last quarter. Essex Investment Management Co. LLC acquired a new stake in Akoustis Technologies in the 2nd quarter valued at approximately $742,000. Finally, MYDA Advisors LLC acquired a new stake in Akoustis Technologies in the 2nd quarter valued at approximately $611,000. Institutional investors and hedge funds own 14.64% of the company’s stock.

AKTS traded up $0.54 during midday trading on Friday, reaching $4.99. 36,699 shares of the company were exchanged, compared to its average volume of 564,505. 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 has a one year low of $3.40 and a one year high of $9.50.

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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