John T. Kurtzweil Sells 2,200 Shares of Akoustis Technologies Inc (AKTS) Stock

Akoustis Technologies Inc (NASDAQ:AKTS) CFO John T. Kurtzweil sold 2,200 shares of the firm’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $6.16, for a total value of $13,552.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of Akoustis Technologies Inc (NASDAQ AKTS) traded down $0.36 during midday trading on Monday, hitting $5.79. The company had a trading volume of 169,484 shares, compared to its average volume of 101,189. Akoustis Technologies Inc has a 52 week low of $4.91 and a 52 week high of $14.00.

Akoustis Technologies (NASDAQ:AKTS) last announced its quarterly earnings data on Tuesday, November 14th. The technology company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.11). The firm had revenue of $0.30 million for the quarter, compared to analysts’ expectations of $0.70 million. Akoustis Technologies had a negative net margin of 1,462.20% and a negative return on equity of 115.56%. research analysts anticipate that Akoustis Technologies Inc will post -0.38 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. purchased a new position in shares of Akoustis Technologies during the 2nd quarter valued at about $3,233,000. Northern Trust Corp purchased a new position in shares of Akoustis Technologies during the 2nd quarter valued at about $763,000. D.A. Davidson & CO. raised its holdings in shares of Akoustis Technologies by 154.8% during 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 purchased a new position in shares of Akoustis Technologies during the 2nd quarter valued at about $650,000. Finally, Wells Fargo & Company MN raised its holdings in shares of Akoustis Technologies by 504,642.9% during the 3rd quarter. Wells Fargo & Company MN now owns 35,332 shares of the technology company’s stock valued at $230,000 after buying an additional 35,325 shares in the last quarter. 9.37% of the stock is currently owned by institutional investors.

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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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