Oppenheimer Issues a Buy Rating on Akoustis Technologies (AKTS)
Oppenheimer analyst Rick Schafer assigned a Buy rating to Akoustis Technologies (AKTS) today and set a price target of $18.00. The company’s shares closed last Monday at $9.97.
According to TipRanks.com, Schafer is a top 100 analyst with an average return of 23.5% and a 77.7% success rate. Schafer covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Skyworks Solutions.
Currently, the analyst consensus on Akoustis Technologies is a Strong Buy with an average price target of $17.33, a 51.0% upside from current levels. In a report released today, Roth Capital also maintained a Buy rating on the stock with a $16.00 price target.
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The company has a one-year high of $19.15 and a one-year low of $7.00. Currently, Akoustis Technologies has an average volume of 759K.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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. The RF Filters segment includes amplifier and filter product sales, and grant revenue. The company was founded by Jeffrey B. Shealy in 2014 and is headquartered in Huntersville, NC.