Granahan Investment Management LLC boosted its position in Akoustis Technologies, Inc. (NASDAQ:AKTS – Free Report) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 948,410 shares of the technology company’s stock after acquiring an additional 9,259 shares during the quarter. Granahan Investment Management LLC owned 1.32% of Akoustis Technologies worth $2,921,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. CI Private Wealth LLC acquired a new stake in Akoustis Technologies in the fourth quarter valued at approximately $30,000. Jump Financial LLC acquired a new stake in Akoustis Technologies in the first quarter valued at approximately $31,000. Ipswich Investment Management Co. Inc. acquired a new stake in Akoustis Technologies in the first quarter valued at approximately $32,000. Marshall Wace LLP acquired a new stake in Akoustis Technologies in the third quarter valued at approximately $33,000. Finally, Jag Capital Management LLC acquired a new stake in Akoustis Technologies in the first quarter valued at approximately $38,000. Institutional investors and hedge funds own 52.07% of the company’s stock.
Akoustis Technologies Stock Up 14.4 %
AKTS stock opened at $1.19 on Monday. The company has a current ratio of 3.41, a quick ratio of 5.14 and a debt-to-equity ratio of 0.51. Akoustis Technologies, Inc. has a twelve month low of $0.92 and a twelve month high of $4.96. The company’s 50 day moving average is $2.17 and its two-hundred day moving average is $2.79. The stock has a market cap of $86.10 million, a P/E ratio of -1.19 and a beta of 1.66.
Analysts Set New Price Targets
Several analysts recently weighed in on the stock. B. Riley cut shares of Akoustis Technologies from a “buy” rating to a “neutral” rating and reduced their target price for the company from $9.25 to $1.75 in a report on Wednesday, September 6th. Oppenheimer cut their price objective on shares of Akoustis Technologies from $6.00 to $3.00 and set an “outperform” rating on the stock in a report on Thursday.
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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