Traders Purchase Large Volume of Call Options on Akoustis Technologies (NASDAQ:AKTS)

Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Rating) was the target of some unusual options trading activity on Tuesday. Stock traders bought 2,715 call options on the stock. This is an increase of 2,021% compared to the average daily volume of 128 call options.

Analyst Ratings Changes

AKTS has been the subject of several analyst reports. Oppenheimer decreased their price target on shares of Akoustis Technologies from $8.00 to $7.00 and set an “outperform” rating for the company in a research report on Monday, November 14th. Craig Hallum decreased their price target on shares of Akoustis Technologies to $7.00 in a research report on Thursday, November 17th. Finally, B. Riley initiated coverage on shares of Akoustis Technologies in a research report on Tuesday. They set a “buy” rating and a $9.25 price target for the company.

Hedge Funds Weigh In On Akoustis Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of AKTS. BlackRock Inc. grew its stake in shares of Akoustis Technologies by 1.6% during the 3rd quarter. BlackRock Inc. now owns 3,175,561 shares of the technology company’s stock worth $9,432,000 after purchasing an additional 50,596 shares during the period. Vanguard Group Inc. grew its stake in shares of Akoustis Technologies by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,621,395 shares of the technology company’s stock worth $7,786,000 after purchasing an additional 14,821 shares during the period. State Street Corp grew its stake in shares of Akoustis Technologies by 10.3% during the 1st quarter. State Street Corp now owns 872,372 shares of the technology company’s stock worth $5,670,000 after purchasing an additional 81,363 shares during the period. Sargent Investment Group LLC grew its stake in shares of Akoustis Technologies by 21.1% during the 3rd quarter. Sargent Investment Group LLC now owns 606,420 shares of the technology company’s stock worth $1,795,000 after purchasing an additional 105,470 shares during the period. Finally, First Washington CORP grew its stake in shares of Akoustis Technologies by 26.0% during the 3rd quarter. First Washington CORP now owns 598,837 shares of the technology company’s stock worth $1,779,000 after purchasing an additional 123,469 shares during the period. Institutional investors and hedge funds own 49.05% of the company’s stock.

Akoustis Technologies Stock Performance

Shares of Akoustis Technologies stock opened at $3.37 on Wednesday. The firm has a market capitalization of $198.86 million, a P/E ratio of -2.86 and a beta of 1.63. The company has a quick ratio of 5.39, a current ratio of 5.75 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average price of $3.27 and a 200 day moving average price of $3.55. Akoustis Technologies has a 52 week low of $2.28 and a 52 week high of $7.13.

Akoustis Technologies (NASDAQ:AKTS – Get Rating) last issued its quarterly earnings results on Monday, November 14th. The technology company reported ($0.28) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.08). Akoustis Technologies had a negative return on equity of 51.16% and a negative net margin of 342.71%. The business had revenue of $5.57 million during the quarter, compared to analyst estimates of $5.59 million. Sell-side analysts expect that Akoustis Technologies will post -0.94 EPS for the current year.

Akoustis Technologies Company Profile

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Akoustis Technologies, Inc is a filter solutions company, which engages in the development, design, and manufacture of radio frequency (RF) filter products. It operates through the Foundry Fabrication Services and RF Filters segments. The Foundry Fabrication Services segment is composed of engineering review services and STC-MEMS foundry services.