Akoustis Technologies (NASDAQ:AKTS) PT Lowered to $5.00 at Piper Sandler

Akoustis Technologies (NASDAQ:AKTSGet Rating) had its target price reduced by Piper Sandler from $7.00 to $5.00 in a research note released on Tuesday, The Fly reports. They currently have an overweight rating on the technology company’s stock.

Akoustis Technologies Stock Down 8.8 %

Shares of AKTS stock opened at $3.62 on Tuesday. The stock has a market cap of $202.59 million, a price-to-earnings ratio of -3.58 and a beta of 1.43. Akoustis Technologies has a fifty-two week low of $3.25 and a fifty-two week high of $10.75. The firm’s 50 day moving average price is $4.27 and its two-hundred day moving average price is $4.66.

Insider Buying and Selling at Akoustis Technologies

In other Akoustis Technologies news, Director Steven Denbaars sold 7,000 shares of Akoustis Technologies stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $3.90, for a total transaction of $27,300.00. Following the transaction, the director now directly owns 243,545 shares of the company’s stock, valued at $949,825.50. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold a total of 26,193 shares of company stock valued at $111,688 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.

Institutional Trading of Akoustis Technologies

Hedge funds have recently made changes to their positions in the company. Amalgamated Bank purchased a new stake in shares of Akoustis Technologies during the first quarter valued at approximately $52,000. Hohimer Wealth Management LLC purchased a new stake in shares of Akoustis Technologies during the first quarter valued at approximately $65,000. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Akoustis Technologies in the second quarter worth $38,000. ProShare Advisors LLC bought a new stake in shares of Akoustis Technologies in the fourth quarter worth $71,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Akoustis Technologies by 170.0% in the second quarter. BNP Paribas Arbitrage SA now owns 11,382 shares of the technology company’s stock worth $42,000 after buying an additional 7,167 shares during the last quarter. Hedge funds and other institutional investors own 52.22% of the company’s stock.

Akoustis Technologies Company Profile

(Get Rating)

Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, develops, designs, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industry in the United States. It operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and semiconductor wafer-manufacturing and microelectromechanical systems foundry services.

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