Shares of Akoustis Technologies Inc (NASDAQ:AKTS) have received a consensus recommendation of “Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $12.08.

Several research analysts have issued reports on the company. Oppenheimer assumed coverage on Akoustis Technologies in a research report on Thursday, August 30th. They issued an “outperform” rating and a $10.00 price objective for the company. Loop Capital assumed coverage on Akoustis Technologies in a research report on Thursday, June 21st. They issued a “buy” rating and a $15.00 price objective for the company. Piper Jaffray Companies assumed coverage on Akoustis Technologies in a research report on Wednesday. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Roth Capital increased their price objective on Akoustis Technologies to $10.00 and gave the stock a “buy” rating in a research report on Thursday, June 21st.

NASDAQ:AKTS opened at $5.82 on Wednesday. The company has a current ratio of 6.01, a quick ratio of 5.99 and a debt-to-equity ratio of 0.83. Akoustis Technologies has a 1 year low of $4.86 and a 1 year high of $9.50.

In other Akoustis Technologies news, CEO Jeffrey B. Shealy sold 7,200 shares of the company’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $7.67, for a total value of $55,224.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David Aichele sold 10,175 shares of the company’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $7.15, for a total value of $72,751.25. The disclosure for this sale can be found here. Insiders sold 49,193 shares of company stock worth $379,560 in the last three months. 22.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Providence Capital Advisors LLC grew its holdings in Akoustis Technologies by 10.8% in the second quarter. Providence Capital Advisors LLC now owns 73,778 shares of the technology company’s stock valued at $536,000 after purchasing an additional 7,205 shares during the last quarter. D.A. Davidson & CO. boosted its stake in shares of Akoustis Technologies by 18.8% during the second quarter. D.A. Davidson & CO. now owns 113,500 shares of the technology company’s stock valued at $825,000 after acquiring an additional 18,000 shares during the last quarter. UBS Group AG boosted its stake in shares of Akoustis Technologies by 28.8% during the first quarter. UBS Group AG now owns 83,274 shares of the technology company’s stock valued at $485,000 after acquiring an additional 18,634 shares during the last quarter. LMR Partners LLP acquired a new stake in shares of Akoustis Technologies during the second quarter valued at $216,000. Finally, Financial Advocates Investment Management boosted its stake in shares of Akoustis Technologies by 14.6% during the second quarter. Financial Advocates Investment Management now owns 259,150 shares of the technology company’s stock valued at $1,884,000 after acquiring an additional 33,000 shares during the last quarter. 14.58% of the stock is currently owned by institutional investors.

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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