Mutual of America Capital Management LLC Cuts Stock Holdings in Akoustis Technologies, Inc. (NASDAQ:AKTS)

Mutual of America Capital Management LLC trimmed its position in Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Rating) by 0.9% during the 4th quarter, HoldingsChannel reports. The firm owned 292,851 shares of the technology company’s stock after selling 2,736 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Akoustis Technologies were worth $1,956,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. UBS Group AG increased its position in Akoustis Technologies by 8.3% in the third quarter. UBS Group AG now owns 382,925 shares of the technology company’s stock worth $3,715,000 after purchasing an additional 29,434 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Akoustis Technologies by 12.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 138,325 shares of the technology company’s stock worth $924,000 after buying an additional 15,075 shares during the last quarter. Commonwealth Equity Services LLC raised its position in shares of Akoustis Technologies by 6.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 287,063 shares of the technology company’s stock valued at $2,784,000 after buying an additional 17,089 shares in the last quarter. Elemental Capital Partners LLC lifted its holdings in shares of Akoustis Technologies by 32.0% in the 4th quarter. Elemental Capital Partners LLC now owns 2,365,027 shares of the technology company’s stock valued at $13,930,000 after acquiring an additional 573,677 shares during the last quarter. Finally, Barclays PLC grew its position in Akoustis Technologies by 63.3% in the third quarter. Barclays PLC now owns 20,491 shares of the technology company’s stock worth $198,000 after acquiring an additional 7,942 shares in the last quarter. 49.84% of the stock is owned by institutional investors.

Shares of NASDAQ AKTS opened at $4.75 on Friday. Akoustis Technologies, Inc. has a 1 year low of $4.58 and a 1 year high of $12.87. The firm has a 50-day simple moving average of $6.02 and a two-hundred day simple moving average of $6.56. The company has a market cap of $259.69 million, a P/E ratio of -4.95 and a beta of 1.33.

Akoustis Technologies (NASDAQ:AKTS – Get Rating) last issued its quarterly earnings results on Monday, January 31st. The technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.04). The business had revenue of $4.55 million for the quarter, compared to the consensus estimate of $3.70 million. Akoustis Technologies had a negative return on equity of 33.74% and a negative net margin of 473.95%. During the same period in the prior year, the business posted ($0.22) earnings per share. As a group, research analysts predict that Akoustis Technologies, Inc. will post -0.9 earnings per share for the current fiscal year.

Separately, Zacks Investment Research lowered Akoustis Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, February 3rd.

In related news, Director James Michael Mcguire bought 17,800 shares of Akoustis Technologies stock in a transaction dated Monday, February 7th. The shares were acquired at an average cost of $5.62 per share, with a total value of $100,036.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Aichele sold 5,000 shares of Akoustis Technologies stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $5.93, for a total transaction of $29,650.00. Following the sale, the executive vice president now directly owns 191,810 shares of the company’s stock, valued at approximately $1,137,433.30. The disclosure for this sale can be found here. 5.70% of the stock is currently owned by company insiders.

Akoustis Technologies Profile (Get Rating)

Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, develops, designs, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industry in the United States. It operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and semiconductor wafer-manufacturing and microelectromechanical systems foundry services.

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