Akoustis Technologies (AKTS) Coverage Initiated at Piper Jaffray Companies


Piper Jaffray Companies started coverage on shares of Akoustis Technologies (NASDAQ:AKTS) in a report published on Wednesday, The Fly reports. The brokerage issued a buy rating and a $10.00 target price on the technology company’s stock.


A number of other research firms have also recently commented on AKTS. Oppenheimer assumed coverage on shares of Akoustis Technologies in a research note on Thursday, August 30th. They set an outperform rating and a $10.00 price target for the company. Roth Capital lifted their price target on shares of Akoustis Technologies to $10.00 and gave the stock a buy rating in a research note on Thursday, June 21st. Finally, Loop Capital assumed coverage on shares of Akoustis Technologies in a research note on Thursday, June 21st. They set a buy rating and a $15.00 price target for the company. Six research analysts have rated the stock with a buy rating, Akoustis Technologies presently has an average rating of Buy and a consensus target price of $12.08.

Get Akoustis Technologies alerts:

AKTS stock opened at $5.82 on Wednesday. Akoustis Technologies has a 12 month low of $4.86 and a 12 month high of $9.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.01 and a quick ratio of 5.99.

In other Akoustis Technologies news, Director Suzanne B. Rudy sold 8,000 shares of the business’s stock in a transaction dated Wednesday, October 3rd. The shares were sold at an average price of $7.45, for a total value of $59,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Aichele sold 10,175 shares of the business’s stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $7.15, for a total transaction of $72,751.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,193 shares of company stock valued at $379,560. 22.60% of the stock is owned by corporate insiders.


A number of institutional investors have recently added to or reduced their stakes in the business. Salem Investment Counselors Inc. boosted its position in Akoustis Technologies by 3,061.7% in the 2nd quarter. Salem Investment Counselors Inc. now owns 142,275 shares of the technology company’s stock valued at $1,034,000 after buying an additional 137,775 shares during the period. Millennium Management LLC boosted its position in Akoustis Technologies by 145.4% in the 2nd quarter. Millennium Management LLC now owns 301,087 shares of the technology company’s stock valued at $2,189,000 after buying an additional 178,419 shares during the period. Paloma Partners Management Co purchased a new stake in Akoustis Technologies in the 2nd quarter valued at about $424,000. MYDA Advisors LLC purchased a new stake in Akoustis Technologies in the 2nd quarter valued at about $611,000. Finally, Financial Advocates Investment Management boosted its position in Akoustis Technologies by 14.6% in the 2nd quarter. Financial Advocates Investment Management now owns 259,150 shares of the technology company’s stock valued at $1,884,000 after buying an additional 33,000 shares during the period. 14.58% of the stock is owned by institutional investors.


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 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.

Read More: Investing strategies using the yield curve

The Fly

Analyst Recommendations for Akoustis Technologies (NASDAQ:<b><a href=AKTS)' title='Analyst Recommendations for Akoustis Technologies (NASDAQ:AKTS)' />