Stocks of Akoustis Technologies Inc (NASDAQ:AKTS) traded higher last session on Wall Street, down -15.20% to $0.08.
AKTS stock price is now -12.73% away from the 50-day moving average and -80.78% away from the 200-day moving average. The market capitalization of the company currently stands at $10.90M.
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With the price target reduced from $2 to $1, Piper Sandler Downgraded its rating from Overweight to Neutral for Akoustis Technologies Inc (NASDAQ: AKTS). On September 06, 2023, B. Riley Securities Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock reducing its target price from $9.25 to quote $1.75, while ‘Craig Hallum’ rates the stock as ‘Buy’
In other news, Geiss Arthur, Director bought 50,000 shares of the company’s stock on Jan 29 ’24. The stock was bought for $25,000 at an average price of $0.50. Upon completion of the transaction, the Director now directly owns 415,924 shares in the company, valued at $33273.92. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 29 ’24, EVP of Business Development Aichele David bought 80,000 shares of the business’s stock. A total of $40,000 was incurred on buying the stock at an average price of $0.50. This leaves the insider owning 334,622 shares of the company worth $26769.76. A total of 5.08% of the company’s stock is owned by insiders.
During the past 12 months, Akoustis Technologies Inc has had a low of $0.05 and a high of $1.19. As of last week, the company has a debt-to-equity ratio of 1.06, a current ratio of 1.57, and a quick ratio of 1.29. The fifty day moving average price for AKTS is $0.086 and a two-hundred day moving average price translates $0.392285 for the stock.
The latest earnings results from Akoustis Technologies Inc (NASDAQ: AKTS) was released for 2024-03-31. The net profit margin was -257.56% and return on equity was -108.05% for AKTS. The company reported revenue of $7.51 million for the quarter, compared to $7.36 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2.09 percent.
