Akoustis Technologies, Inc. (NASDAQ:AKTS) Shares Acquired by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC lifted its position in shares of Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Rating) by 1.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 514,984 shares of the technology company’s stock after purchasing an additional 7,634 shares during the period. Taylor Frigon Capital Management LLC’s holdings in Akoustis Technologies were worth $1,530,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. lifted its position in shares of Akoustis Technologies by 5.4% during the 1st quarter. BlackRock Inc. now owns 3,125,796 shares of the technology company’s stock worth $20,317,000 after purchasing an additional 159,859 shares during the last quarter. State Street Corp lifted its position 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 last quarter. Sargent Investment Group LLC lifted its position 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 last quarter. Connors Investor Services Inc. lifted its position in Akoustis Technologies by 1.4% in the second quarter. Connors Investor Services Inc. now owns 586,686 shares of the technology company’s stock valued at $2,171,000 after acquiring an additional 8,133 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Akoustis Technologies by 2.8% in the first quarter. Northern Trust Corp now owns 458,906 shares of the technology company’s stock valued at $2,983,000 after acquiring an additional 12,359 shares during the last quarter. 49.05% of the stock is owned by hedge funds and other institutional investors.

Akoustis Technologies Price Performance

NASDAQ AKTS traded down $0.05 during trading on Wednesday, reaching $3.32. The company’s stock had a trading volume of 289,529 shares, compared to its average volume of 874,883. The company has a current ratio of 5.75, a quick ratio of 5.39 and a debt-to-equity ratio of 0.51. Akoustis Technologies, Inc. has a twelve month low of $2.28 and a twelve month high of $7.13. The business’s fifty day moving average price is $3.27 and its 200-day moving average price is $3.55.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $5.57 million for the quarter, compared to analyst estimates of $5.59 million. On average, research analysts forecast that Akoustis Technologies, Inc. will post -0.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. B. Riley assumed coverage on shares of Akoustis Technologies in a research report on Tuesday. They issued a “buy” rating and a $9.25 price target for the company. Oppenheimer dropped their price objective on shares of Akoustis Technologies from $8.00 to $7.00 and set an “outperform” rating on the stock in a research note on Monday, November 14th. Finally, Craig Hallum dropped their price objective on shares of Akoustis Technologies to $7.00 in a research note on Thursday, November 17th.

Akoustis Technologies 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.