B. Riley lowered the firm’s price target on Akoustis to $1 from $1.75 and keeps a Neutral rating on the shares after the company completed a 20M share offering. The firm says that after warning for multiple quarters funding needs were increasingly rising, it is unsurprised with the capital raise. The analyst continues to believe Akoustis has “interesting and leadership-advanced” filtering technology, but that an “opaque path” to near-term profitability warrants a Neutral share stance.
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