Traders Purchase Large Volume of Call Options on Akoustis Technologies (NASDAQ:AKTS)

Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Rating) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 2,715 call options on the company. This represents an increase of 2,021% compared to the typical volume of 128 call options.

Akoustis Technologies Price Performance

Shares of NASDAQ:AKTS opened at $3.37 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 5.75 and a quick ratio of 5.39. Akoustis Technologies has a 1-year low of $2.28 and a 1-year high of $7.13. The company has a market capitalization of $198.86 million, a P/E ratio of -2.86 and a beta of 1.63. The firm’s 50 day simple moving average is $3.27 and its two-hundred day simple moving average is $3.55.

Akoustis Technologies (NASDAQ:AKTS – Get Rating) last released its earnings results on Monday, November 14th. The technology company reported ($0.28) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.08). Akoustis Technologies had a negative return on equity of 51.16% and a negative net margin of 342.71%. The company had revenue of $5.57 million during the quarter, compared to analysts’ expectations of $5.59 million. Research analysts expect that Akoustis Technologies will post -0.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AKTS has been the subject of a number of analyst reports. Craig Hallum reduced their price objective on shares of Akoustis Technologies to $7.00 in a research note on Thursday, November 17th. B. Riley assumed coverage on shares of Akoustis Technologies in a research note on Tuesday. They issued a “buy” rating and a $9.25 price target for the company. Finally, Oppenheimer reduced their price target on shares of Akoustis Technologies from $8.00 to $7.00 and set an “outperform” rating for the company in a research note on Monday, November 14th.

Hedge Funds Weigh In On Akoustis Technologies

Several hedge funds have recently modified their holdings of the stock. Marshall Wace LLP purchased a new stake in Akoustis Technologies during the third quarter valued at $33,000. Clark Financial Services Group Inc. BD purchased a new stake in Akoustis Technologies during the third quarter valued at $34,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in Akoustis Technologies during the second quarter valued at $38,000. BNP Paribas Arbitrage SA raised its stake in Akoustis Technologies by 170.0% during the second quarter. BNP Paribas Arbitrage SA now owns 11,382 shares of the technology company’s stock valued at $42,000 after purchasing an additional 7,167 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new stake in Akoustis Technologies during the second quarter valued at $45,000. Hedge funds and other institutional investors own 49.05% of the company’s stock.

About Akoustis Technologies

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Akoustis Technologies, Inc is a filter solutions company, which engages in the development, design, and manufacture of radio frequency (RF) filter products. It operates through the Foundry Fabrication Services and RF Filters segments. The Foundry Fabrication Services segment is composed of engineering review services and STC-MEMS foundry services.