Wall Street brokerages forecast that Akoustis Technologies Inc (NASDAQ:AKTS) will report earnings of ($0.21) per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Akoustis Technologies’ earnings, with the lowest EPS estimate coming in at ($0.27) and the highest estimate coming in at ($0.17). Akoustis Technologies reported earnings per share of ($0.26) during the same quarter last year, which would suggest a positive year-over-year growth rate of 19.2%. The company is expected to issue its next quarterly earnings report on Friday, May 8th.
On average, analysts expect that Akoustis Technologies will report full-year earnings of ($0.91) per share for the current fiscal year, with EPS estimates ranging from ($1.04) to ($0.83). For the next year, analysts anticipate that the firm will report earnings of ($0.46) per share, with EPS estimates ranging from ($0.80) to ($0.22). Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Akoustis Technologies.
Akoustis Technologies (NASDAQ:AKTS) last posted its earnings results on Monday, February 3rd. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.04). Akoustis Technologies had a negative return on equity of 98.09% and a negative net margin of 1,791.55%. The business had revenue of $0.52 million for the quarter, compared to the consensus estimate of $0.55 million.
AKTS has been the subject of a number of research reports. Zacks Investment Research cut Akoustis Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Loop Capital reissued a “buy” rating and set a $11.00 target price on shares of Akoustis Technologies in a research note on Wednesday, January 8th. BidaskClub cut Akoustis Technologies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, February 4th. Finally, Northland Securities lowered their target price on Akoustis Technologies from $7.40 to $7.00 and set a “market perform” rating for the company in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Akoustis Technologies currently has a consensus rating of “Hold” and a consensus price target of $9.95.
NASDAQ AKTS opened at $7.82 on Friday. The business has a 50 day simple moving average of $8.11 and a 200 day simple moving average of $7.60. Akoustis Technologies has a 52-week low of $5.17 and a 52-week high of $9.25. The company has a debt-to-equity ratio of 0.47, a current ratio of 11.73 and a quick ratio of 11.71.
In other news, CEO Jeffrey B. Shealy sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $7.63, for a total transaction of $228,900.00. Insiders have sold a total of 33,900 shares of company stock valued at $258,657 over the last ninety days. Company insiders own 18.00% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of AKTS. BlackRock Inc. grew its stake in shares of Akoustis Technologies by 979.0% during the 2nd quarter. BlackRock Inc. now owns 1,638,142 shares of the technology company’s stock worth $10,484,000 after acquiring an additional 1,486,322 shares in the last quarter. Silverback Asset Management LLC grew its stake in shares of Akoustis Technologies by 139.4% during the 4th quarter. Silverback Asset Management LLC now owns 1,103,156 shares of the technology company’s stock worth $8,825,000 after acquiring an additional 642,294 shares in the last quarter. Senvest Management LLC bought a new position in shares of Akoustis Technologies during the 4th quarter worth approximately $3,840,000. Taylor Frigon Capital Management LLC bought a new position in shares of Akoustis Technologies during the 4th quarter worth approximately $1,501,000. Finally, Vanguard Group Inc. grew its stake in shares of Akoustis Technologies by 15.1% during the 2nd quarter. Vanguard Group Inc. now owns 1,241,285 shares of the technology company’s stock worth $7,944,000 after acquiring an additional 163,067 shares in the last quarter. 26.92% of the stock is owned by institutional investors.
About Akoustis Technologies
Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, develops, designs, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industries in the United States. The company operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and smart systems technology and commercialization center foundry, as well as manufacturing and microelectromechanical systems foundry services.
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