Akoustis Technologies Inc (AKTS) Director Purchases $29,997.00 in Stock

Akoustis Technologies Inc (NASDAQ:AKTS) Director Steven Denbaars bought 5,454 shares of the stock in a transaction on Tuesday, November 14th. The stock was purchased at an average cost of $5.50 per share, with a total value of $29,997.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Akoustis Technologies Inc (AKTS) opened at $6.53 on Tuesday. Akoustis Technologies Inc has a 12 month low of $4.91 and a 12 month high of $14.00.

Akoustis Technologies (NASDAQ:AKTS) last released its earnings results on Tuesday, November 14th. The technology company reported ($0.24) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.11). Akoustis Technologies had a negative return on equity of 115.56% and a negative net margin of 1,462.20%. The firm had revenue of $0.30 million during the quarter, compared to analysts’ expectations of $0.70 million. analysts predict that Akoustis Technologies Inc will post -0.34 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System purchased a new stake in shares of Akoustis Technologies during the 2nd quarter valued at $135,000. IHT Wealth Management LLC purchased a new stake in shares of Akoustis Technologies during the 2nd quarter valued at $133,000. Parsec Financial Management Inc. purchased a new stake in shares of Akoustis Technologies during the 2nd quarter valued at $170,000. Schwab Charles Investment Management Inc. purchased a new stake in shares of Akoustis Technologies during the 2nd quarter valued at $185,000. Finally, Commonwealth Equity Services Inc purchased a new stake in shares of Akoustis Technologies during the 3rd quarter valued at $150,000. 10.83% of the stock is owned by institutional investors.

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Akoustis Technologies Company Profile

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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