- Akoustis Technologies ( NASDAQ: AKTS ) shares surged ~8% premarket on Tuesday after B. Riley Securities initiated coverage on the RF filter specialist with a "Buy" rating and a $9.25 PT which suggests ~3x potential 12-month upside.
- Analyst Craig A. Ellis said, "We believe AKTS offers one of the semiconductor sector’s most robust 5G sales growth and GM expansion outlooks, aided by early January’s revenue growth and GM-accretive GDSI dal, a just-completed $30M capital raise where B. Riley was a lead underwriter, and a fresh hgh-volume mobile filter order from its lead customer."
- Signs of mobile volume ramps, continued WiFi growth, and progress to cash flow breakeven were cited as stock catalysts, with Ellis adding that "we thus expect AKTS can grow 5x–10x its +10% TAM CAGR in the years ahead, and as that happens, we expect gross and operating margin expansion toward industry-standard."
- Shares of Akoustis Technologies ( AKTS ) have fallen 37.86% over the past year
- SA Quant system rates the stock as hold
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Akoustis Technologies rises as B. Riley initiates coverage with Buy