Akoustis Technologies Rises 12%; Adds Third Mobile Customer

(RTTNews) - Shares of Akoustis Technologies, Inc. (AKTS), radio frequency (RF) filter products maker for the mobile wireless device industry, are rising more than 12% in the morning trade on Monday after the company said it added third mobile customer to develop a XBAW filter for a 4G/5G band.

The company said this new customer, who is a leading 4G/5G RF component company focused on Asian handset OEMs, intends to expand its use of XBAW filters in additional frequency bands if this initial statement-of-work is completed satisfactorily.

Akoustis' all three customers are planning production ramps in late calendar 2022, or early calendar 2023.

AKTS, currently at $8.47, has traded in the range of $7.09- $19.15 in the last one year.