Akoustis Technologies (AKTS) Received its Third Buy in a Row


After Loop Capital Markets and Northland Securities gave Akoustis Technologies (NASDAQ: AKTS) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Rick Schafer reiterated a Buy rating on Akoustis Technologies today and set a price target of $10. The company’s shares opened today at $4.83.

According to TipRanks.com, Schafer is a 5-star analyst with an average return of 13.4% and a 65.0% success rate. Schafer covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Maxim Integrated.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Akoustis Technologies with a $9.25 average price target, representing a 91.5% upside. In a report issued on November 12, Northland Securities also reiterated a Buy rating on the stock with a $6 price target.

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The company has a one-year high of $9.50 and a one-year low of $3.40. Currently, Akoustis Technologies has an average volume of 348.8K.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AKTS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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 consists of engineering review services and STC-MEMS foundry services.

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