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

After Roth Capital and Oppenheimer gave Akoustis Technologies (NASDAQ: AKTS) a Buy rating last month, the company received another Buy, this time from Craig-Hallum. Analyst Anthony Stoss maintained a Buy rating on Akoustis Technologies today and set a price target of $10. The company’s shares opened today at $7.07.

According to TipRanks.com, Stoss is a 5-star analyst with an average return of 12.6% and a 61.2% success rate. Stoss covers the Consumer Goods sector, focusing on stocks such as Digi International Inc, Skyworks Solutions, and Cypress Semicon.

Currently, the analyst consensus on Akoustis Technologies is a Strong Buy with an average price target of $9.08, representing a 28.4% upside. In a report issued on January 30, Oppenheimer also assigned a Buy rating to the stock with a $10 price target.

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Based on Akoustis Technologies’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $7.31 million. In comparison, last year the company had a GAAP net loss of $5.54 million.

Based on the recent corporate insider activity of 26 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.

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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.