Insider Buying: Akoustis Technologies, Inc. (AKTS) Director Purchases $29,997.00 in Stock
Akoustis Technologies, Inc. (NASDAQ:AKTS) Director Steven Denbaars purchased 5,454 shares of the stock in a transaction dated Tuesday, November 14th. The stock was purchased at an average price of $5.50 per share, for a total transaction of $29,997.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Akoustis Technologies, Inc. (NASDAQ AKTS) traded up $0.21 during trading hours on Friday, hitting $6.45. 77,105 shares of the stock were exchanged, compared to its average volume of 57,325. Akoustis Technologies, Inc. has a twelve month low of $4.91 and a twelve month high of $14.00.
Akoustis Technologies (NASDAQ:AKTS) last released its quarterly earnings results on Tuesday, November 14th. The technology company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.11). Akoustis Technologies had a negative net margin of 1,462.20% and a negative return on equity of 115.56%. The firm had revenue of $0.30 million during the quarter, compared to the consensus estimate of $0.70 million. sell-side analysts predict that Akoustis Technologies, Inc. will post -0.34 earnings per share for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. bought a new stake in shares of Akoustis Technologies in the 2nd quarter valued at about $3,233,000. Northern Trust Corp bought a new stake in shares of Akoustis Technologies in the 2nd quarter valued at about $763,000. D.A. Davidson & CO. boosted its holdings in shares of Akoustis Technologies by 154.8% in the 3rd quarter. D.A. Davidson & CO. now owns 79,000 shares of the technology company’s stock valued at $515,000 after buying an additional 48,000 shares in the last quarter. State Street Corp bought a new stake in shares of Akoustis Technologies in the 2nd quarter valued at about $650,000. Finally, EAM Investors LLC boosted its holdings in shares of Akoustis Technologies by 19.0% in the 2nd quarter. EAM Investors LLC now owns 47,609 shares of the technology company’s stock valued at $416,000 after buying an additional 7,590 shares in the last quarter. Institutional investors and hedge funds own 7.40% of the company’s stock.
About Akoustis Technologies
Akoustis Technologies, Inc, formerly Danlax, Corp., is a fabless company engaged in developing, designing and manufacturing radio frequency (RF) filter products for the mobile wireless device industry. The Company operates in the telecommunications and fiber optics sector. The Company is focused on commercializing and manufacturing its Bulk ONE acoustic wave technology to address the critical frequency-selectivity requirements in mobile smartphones.
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