Akoustis Technologies Receives a Buy from Drexel Hamilton


Drexel Hamilton analyst Cody Acree reiterated a Buy rating on Akoustis Technologies (NASDAQ: AKTS) today and set a price target of $15. The company’s shares opened today at $5.90.

According to TipRanks.com, Acree is a 5-star analyst with an average return of 21.4% and a 71.9% success rate. Acree covers the Consumer Goods sector, focusing on stocks such as Silicon Laboratories, Tower Semiconductor, and NXP Semiconductors.

Akoustis Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $12.50.

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Based on Akoustis Technologies’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $5.54 million. In comparison, last year the company had a GAAP net loss of $2.06 million.

Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock.

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Akoustis Technologies, Inc. is a filter solutions company, which engages in the development, design, and manufacture of radio frequency filter products. Its products include amplifiers and filters under the BulkONE brand. The company was founded in 2014 and is headquartered in Huntersville, NC.

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