Connors Investor Services Inc. boosted its stake in Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Rating) by 46.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 578,553 shares of the technology company's stock after purchasing an additional 183,879 shares during the period. Connors Investor Services Inc. owned approximately 1.03% of Akoustis Technologies worth $3,761,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in AKTS. Hohimer Wealth Management LLC purchased a new position in Akoustis Technologies in the 1st quarter valued at about $65,000. ProShare Advisors LLC purchased a new position in Akoustis Technologies in the 4th quarter valued at about $71,000. HighTower Advisors LLC purchased a new position in Akoustis Technologies in the 1st quarter valued at about $77,000. Advisor Group Holdings Inc. boosted its position in 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 buying an additional 2,790 shares during the last quarter. Finally, Resurgent Financial Advisors LLC purchased a new position in Akoustis Technologies in the 1st quarter valued at about $116,000. 52.22% of the stock is currently owned by institutional investors and hedge funds.
Get Akoustis Technologies alerts:Akoustis Technologies Stock Performance
Shares of AKTS stock opened at $3.62 on Wednesday. Akoustis Technologies, Inc. has a one year low of $3.25 and a one year high of $10.75. The company's 50-day simple moving average is $4.27 and its 200-day simple moving average is $4.66. The stock has a market capitalization of $202.59 million, a price-to-earnings ratio of -3.58 and a beta of 1.43.
Insider Transactions at Akoustis Technologies
In other news, Director Steven Denbaars sold 7,000 shares of the stock in a transaction dated 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 owns 243,545 shares of the company's stock, valued at $949,825.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 26,193 shares of company stock valued at $111,688. Insiders own 5.70% of the company's stock.Analyst Ratings Changes
Separately, Piper Sandler decreased their price objective on shares of Akoustis Technologies from $7.00 to $5.00 and set an "overweight" rating for the company in a research report on Tuesday.
About Akoustis Technologies
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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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