Akoustis Technologies Target of Unusually High Options Trading (NASDAQ:AKTS)

Akoustis Technologies Inc (NASDAQ:AKTS) saw some unusual options trading on Monday. Investors bought 1,052 put options on the stock. This represents an increase of approximately 1,152% compared to the typical daily volume of 84 put options.

Shares of AKTS stock opened at $8.02 on Wednesday. The stock has a market cap of $293.88 million, a P/E ratio of -7.43 and a beta of 1.65. Akoustis Technologies has a one year low of $3.76 and a one year high of $9.55. The stock has a fifty day moving average price of $8.04 and a 200 day moving average price of $7.46. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.54 and a quick ratio of 7.52.

Akoustis Technologies (NASDAQ:AKTS) last issued its quarterly earnings data on Monday, August 24th. The technology company reported ($0.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.02). The company had revenue of $0.37 million for the quarter, compared to the consensus estimate of $0.43 million. Akoustis Technologies had a negative net margin of 2,018.99% and a negative return on equity of 81.49%. Equities research analysts anticipate that Akoustis Technologies will post -0.69 EPS for the current year.

Several brokerages have recently issued reports on AKTS. Zacks Investment Research downgraded shares of Akoustis Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, August 26th. Roth Capital restated a “buy” rating and issued a $12.00 price objective (up previously from $10.00) on shares of Akoustis Technologies in a research note on Monday, August 24th. Finally, BidaskClub cut Akoustis Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, August 5th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.80.

In other news, Director Jeffrey Mcmahon sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 22nd. The shares were sold at an average price of $8.04, for a total value of $160,800.00. Following the sale, the director now owns 514,338 shares in the company, valued at $4,135,277.52. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey B. Shealy sold 25,000 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $8.42, for a total transaction of $210,500.00. Following the completion of the sale, the chief executive officer now owns 2,921,062 shares in the company, valued at approximately $24,595,342.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 54,350 shares of company stock worth $446,832. Corporate insiders own 18.00% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Akoustis Technologies by 5.9% during the first quarter. BlackRock Inc. now owns 1,833,533 shares of the technology company’s stock valued at $9,846,000 after acquiring an additional 101,991 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Akoustis Technologies by 40.3% during the first quarter. Geode Capital Management LLC now owns 478,523 shares of the technology company’s stock valued at $2,569,000 after acquiring an additional 137,524 shares during the period. Squarepoint Ops LLC bought a new position in shares of Akoustis Technologies during the first quarter valued at $79,000. Nuveen Asset Management LLC raised its holdings in shares of Akoustis Technologies by 15.4% in the first quarter. Nuveen Asset Management LLC now owns 95,814 shares of the technology company’s stock valued at $515,000 after buying an additional 12,810 shares during the last quarter. Finally, Raymond James & Associates bought a new position in shares of Akoustis Technologies in the first quarter valued at about $100,000. 38.77% of the stock is owned by institutional investors.

About Akoustis Technologies

Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, develops, designs, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industries in the United States. The company operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and smart systems technology and commercialization center foundry, as well as manufacturing and microelectromechanical systems foundry services.

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