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  • Akoustis (AKTS) Stock Recovering On The Heels of Insider Buying

    Akoustis (AKTS) Stock Recovering On The Heels of Insider Buying

    Akoustis Technologies, Inc. (NASDAQ: AKTS) shares have demonstrated a noteworthy ascent on the market charts today, registering an increase of 8.37% to reach $0.62 as of the latest pre-market session assessment. This surge serves to counterbalance the 3.71% decline experienced during the regular session yesterday. The positive momentum in Akoustis stock is attributed to a series of insider transactions disclosed in SEC filings on the preceding day.

    As delineated in the SEC filings dated Wednesday, it was disclosed that several executives of Akoustis (AKST) collectively acquired 1.5 million shares of the company. This investment amounted to $750,000 at a per-share cost of $0.5. CEO Jeffrey B. Shealy acquired 1,310,000 shares, EVP of Business Development David Aichele acquired 80,000 shares, CFO Kenneth Boller secured 60,000 shares, and Director Arthur Geiss purchased 50,000 shares.

    In a concurrent financial move, AKST also finalized the closure of its previously announced public offering. Akoustis concluded an underwritten public offering comprising 20,000,000 shares of its common stock, priced at $0.50 per share for the public.

    This figure includes the full exercise of the underwriter’s option to acquire an additional 3,000,000 shares, resulting in a total offering of 23,000,000 shares of the company’s common stock. After deducting the underwriting discount and estimated offering expenses, Akoustis netted approximately $10.4 million.

    Notably, Akoustis recently secured a Tier-1 design win for a wireless Battery Management System (wBMS) chipset in Electric Vehicles (EVs) from a prominent automotive product supplier serving the OEM. The design incorporates Akoustis’ 2.4 GHz Bulk Acoustic Wave (BAW) filter, an automotive-grade, high-performance solution tailored for the Industrial, Scientific, and Medical (ISM) radio bands.

    The ISM band solutions are typically utilized for low-power communication needs with short-range capabilities. In the specified design, the Akoustis filter facilitates communication from the control unit to each battery module constituting the battery bank.

    Akoustis has received initial orders from the Tier-1 customer, supporting customer development efforts leading to production scaling in the first quarter of the calendar year 2025.

  • Akoustis Technologies, Inc. (AKTS) Stock on the Rise Following 5G Mobile Foundry Agreement

    Akoustis Technologies, Inc. (AKTS) Stock on the Rise Following 5G Mobile Foundry Agreement

    Akoustis Technologies, Inc. (AKTS) stock prices were down by 2.34% as of the market closing on June 18th 2021, bringing the price per share down to USD$10.43 at the end of the trading day. Subsequent pre-market fluctuations have seen the stock rise by 11.12%, bringing it up to USD$11.59.

    Foundry Agreement

    June 21st, 2021 saw the company announced that it had signed a foundry agreement with a mobile RF front-end customer for the manufacture of XBAW filters for 5G mobile handsets and other wireless devices. AKTS will use its patented and proprietary XBAW process to manufacture the new high-frequency RF filter.

    Finalizing of Offering

    The agreement was finalized after the purchaser evaluated initial filter samples that had been delivered by the company earlier in March of 2021. The company intends to deliver additional samples in the latter half of 2021, utilizing its innovative wafer chip-scale packaging. The purchaser is expected to bump up its volume production by the third quarter of 2022.

    Scope of Agreement

    The company’s entry into the 5G Mobile Smartphone filter sector has been a significant milestone for ATKS. The agreement is for smartphones and other wireless devices is built on the first pass success with the XBAW filter that had been delivered to ATKS’s second mobile RF front-end customer. The mobile handset BAW filter market has the potential to be the largest intermediate-to-long term opportunity to date in terms of both unit volume and revenue. The agreement facilitates the generation of substantial incremental unit and revenue growth in the second half of 2022 and beyond.

    Expansive Growth

    The company plans to up its annual production capacity at its New York location to roughly 500 million filters per year by the end of 2021. The company currently boasts a product catalog containing 15 commercial XBAW filters, including the recently introduced 5.6 Ghz and 6.6 GhzWiFi 6E coexistence filter modules. When the filter modules are qualified, they will bring the number of offerings up to 17. The company is also developing various innovative filters for the sub-7 Ghz bands that target 5G mobile device, network infrastructure, WiFi CPE, and defense markets.

    Future Outlook for AKTS

    Armed with a brand new agreement for its cutting-edge filters, ATKS is poised to continue its trajectory of success. The company is keen to push for the commercialization and proliferation of its expanding catalog of products and services. Current and potential investors are hopeful that management will continue to leverage the resources at their disposal to facilitate significant and sustained increases in shareholder value.