Akoustis Technologies (NASDAQ:AKTS – Get Rating) had its target price lowered by Piper Sandler from $7.00 to $5.00 in a report issued on Tuesday, The Fly reports. The firm currently has an overweight rating on the technology company's stock.
Akoustis Technologies Price Performance
Shares of NASDAQ:AKTS opened at $3.62 on Tuesday. The stock has a market cap of $202.59 million, a P/E ratio of -3.58 and a beta of 1.43. The firm has a fifty day moving average price of $4.27 and a 200 day moving average price of $4.66. Akoustis Technologies has a 1-year low of $3.25 and a 1-year high of $10.75.
Get Akoustis Technologies alerts:Insiders Place Their Bets
In other Akoustis Technologies news, Director Steven Denbaars sold 7,000 shares of the company's stock in a transaction 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 completion of the transaction, the director now owns 243,545 shares in the company, valued at approximately $949,825.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders sold 26,193 shares of company stock worth $111,688. 5.70% of the stock is owned by insiders.
Hedge Funds Weigh In On Akoustis Technologies
Large investors have recently bought and sold shares of the company. Advisor Group Holdings Inc. increased its holdings in shares of Akoustis Technologies by 21.6% in the 4th quarter. Advisor Group Holdings Inc. now owns 15,710 shares of the technology company's stock valued at $106,000 after purchasing an additional 2,790 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Akoustis Technologies by 9.0% in the 4th quarter. Northern Trust Corp now owns 446,547 shares of the technology company's stock valued at $2,983,000 after purchasing an additional 36,864 shares in the last quarter. ProShare Advisors LLC purchased a new position in shares of Akoustis Technologies in the 4th quarter valued at about $71,000. Raymond James & Associates purchased a new position in shares of Akoustis Technologies in the 4th quarter valued at about $175,000. Finally, Senvest Management LLC increased its holdings in shares of Akoustis Technologies by 8.9% in the 4th quarter. Senvest Management LLC now owns 1,096,716 shares of the technology company's stock valued at $7,326,000 after purchasing an additional 89,853 shares in the last quarter. Hedge funds and other institutional investors own 52.22% of the company's stock.Akoustis Technologies Company Profile
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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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