Akoustis Technologies (NASDAQ:AKTS – Get 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
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 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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