AE Wealth Management LLC bought a new position in Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Rating) in the second quarter, according to its most recent filing with the SEC. The firm bought 12,075 shares of the technology company’s stock, valued at approximately $45,000.
A number of other institutional investors also recently bought and sold shares of AKTS. Hoylecohen LLC boosted its stake in Akoustis Technologies by 84.7% in the 1st quarter. Hoylecohen LLC now owns 25,302 shares of the technology company’s stock worth $164,000 after purchasing an additional 11,600 shares in the last quarter. Hohimer Wealth Management LLC acquired a new stake in Akoustis Technologies during the 1st quarter valued at approximately $65,000. Envestnet Asset Management Inc. lifted its stake in Akoustis Technologies by 20.8% during the 1st quarter. Envestnet Asset Management Inc. now owns 28,058 shares of the technology company’s stock valued at $182,000 after acquiring an additional 4,826 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Akoustis Technologies by 6.1% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 291,734 shares of the technology company’s stock valued at $1,896,000 after acquiring an additional 16,750 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in Akoustis Technologies by 19.3% during the 1st quarter. Commonwealth Equity Services LLC now owns 405,962 shares of the technology company’s stock valued at $2,638,000 after acquiring an additional 65,675 shares during the period. 52.22% of the stock is currently owned by institutional investors and hedge funds.
Akoustis Technologies Stock Performance
Shares of NASDAQ AKTS opened at $3.12 on Thursday. The company has a current ratio of 7.25, a quick ratio of 6.92 and a debt-to-equity ratio of 0.42. The stock has a market cap of $178.55 million, a price-to-earnings ratio of -2.84 and a beta of 1.56. The company has a 50 day simple moving average of $3.21 and a two-hundred day simple moving average of $3.80. Akoustis Technologies, Inc. has a 12 month low of $2.28 and a 12 month high of $8.13.
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 note on Tuesday, September 13th.
In related news, Director Steven Denbaars sold 7,000 shares of the business’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $3.90, for a total value of $27,300.00. Following the completion of the sale, the director now owns 243,545 shares of the company’s stock, valued at approximately $949,825.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders sold a total of 23,880 shares of company stock valued at $103,177 in the last three months. 5.40% of the stock is currently owned by corporate insiders.
Akoustis Technologies Profile
Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, designs, develops, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industry in the United States, Asia, Europe, and internationally. It operates through two segments, Foundry Fabrication Services and RF Filters.
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