Northland Securities Remains a Buy on Akoustis Technologies (AKTS)

In a report issued on August 22, Gus Richard from Northland Securities maintained a Buy rating on Akoustis Technologies (AKTSResearch Report), with a price target of $7.40. The company’s shares closed last Monday at $6.79.

According to TipRanks.com, Richard is a 5-star analyst with an average return of 20.3% and a 62.1% success rate. Richard covers the Consumer Goods sector, focusing on stocks such as Adesto Technologies Corp, SolarEdge Technologies, and Axcelis Technologies.

Akoustis Technologies has an analyst consensus of Moderate Buy, with a price target consensus of $7.40.

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Based on Akoustis Technologies’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $9.43 million. In comparison, last year the company had a GAAP net loss of $6.75 million.

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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.