CFO, Boller Kenneth sold 800 shares of Akoustis Technologies Inc. [AKTS]

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ZOM Stock

Akoustis Technologies Inc.’s recent filing unveils that its CFO Boller Kenneth unloaded Company’s shares for reported $3496.0 on Feb 10. In the deal valued at $4.37 per share,800 shares were sold. As a result of this transaction, Boller Kenneth now holds 110,958 shares worth roughly $ 0.41 million.

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Then, Shealy Jeffrey B. sold 2,340 shares, generating $6,646 in total proceeds. Upon selling the shares at $2.84, the Chief Executive Officer now owns 505,502 shares.

Before that, Aichele David sold 1,480 shares. Akoustis Technologies Inc. shares valued at $4,647 were divested by the EVP of Business Development at a price of $3.14 per share. As a result of the transaction, Aichele David now holds 215,987 shares, worth roughly $0.81 million.

B. Riley Securities initiated its Akoustis Technologies Inc. [AKTS] rating to a Buy in a research note published on Tuesday, January 24, 2023; the price target was $9.25. PT values the company’s stock at a premium of 59.57 to its Tuesday closing price. A number of analysts have revised their coverage, including Craig Hallum’s analysts, who remained covering the stock and in early February has reiterated a ‘”a Buy”‘ rating for it. Craig Hallum also remained covering AKTS and reiterated its “Buy” recommendation on January 15, 2021. Northland Capital revised its rating on September 18, 2019. It rated AKTS as “a Market perform” which previously was an “an Outperform”.

Price Performance Review of AKTS

On Tuesday, Akoustis Technologies Inc. [NASDAQ:AKTS] saw its stock jump 3.31% to $3.74. On the same session, the stock had its day’s lowest price of $3.6108, but rose to a high of $3.80. Over the last five days, the stock has gained 2.47%. Akoustis Technologies Inc. shares have risen nearly 32.62% since the year began. Nevertheless, the stocks have fallen -39.48% over the past one year. While a 52-week high of $7.13 was reached on 02/08/23, a 52-week low of $2.28 was recorded on 01/06/23. SMA at 50 days reached $3.48, while 200 days put it at $3.66. A total of 0.78 million shares were traded, compared to the trading of 0.57 million shares in the previous session.

Levels Of Support And Resistance For AKTS Stock

The 24-hour chart illustrates a support level at 3.63, which if violated will result in even more drops to 3.53. On the upside, there is a resistance level at 3.82. A further resistance level may holdings at 3.91. The Relative Strength Index (RSI) on the 14-day chart is 48.31, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.33, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 85.56%. Stochastics %K at 7.99% indicates the stock is a buying.

How much short interest is there in Akoustis Technologies Inc.?

A steep rise in short interest was recorded in Akoustis Technologies Inc. stocks on Jan 30, 2023, dropping by -0.66 million shares to a total of 4.26 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2022 was 4.92 million shares. There was a decline of -15.49%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.14% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.71.

Akoustis Technologies Inc. [AKTS] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 3,016,234 shares, or roughly 4.31% of the outstanding AKTS shares. In other words, the investor’s shares have risen by 139,255 from its previous 13-F filing of 2876979.0. Additionally, The Vanguard Group, Inc. increased 4.19% of its stake after which the total value it holdings stand at $9,706,888, while Silverback Asset Management LLC added 61.54% of its stake to hold $9.54 million in the firm. Over the last quarter, Elemental Capital Partners LLC sold -30,795 shares of Akoustis Technologies Inc., while Senvest Management LLC sold 259,124 shares. At present, Needham Investment Management LLC is holding 1,092,500 shares valued at $4.03 million. Geode Capital Management LLC owned 1,034,995 shares of the company at the time of its most recent 13F filing, worth $3.82 million.

According to FactSet, Akoustis Technologies Inc.’s share price will average $7.65 in the next year, based on opinions of analysts polled by the firm. This is up nearly 93.37 percent from its previous closing price of $3.62. Analysts expect Akoustis Technologies Inc. stock to reach the higher price of $10.00, while the lowest price estimate is $5.00. However, 5 analysts have rated AKTS stock as a Buy in their predictions for 2023.


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