Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 7,220,000 shares, an increase of 9.7% from the August 15th total of 6,580,000 shares. Based on an average daily volume of 844,600 shares, the days-to-cover ratio is currently 8.5 days.
Analyst Ratings Changes
A number of research firms have weighed in on AKTS. Oppenheimer dropped their price target on shares of Akoustis Technologies from $6.00 to $3.00 and set an “outperform” rating for the company in a research report on Thursday, September 7th. B. Riley lowered shares of Akoustis Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $9.25 to $1.75 in a research report on Wednesday, September 6th.
Hedge Funds Weigh In On Akoustis Technologies
Akoustis Technologies Price Performance
Shares of NASDAQ:AKTS opened at $0.84 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 3.41. The firm has a fifty day moving average price of $1.92 and a 200 day moving average price of $2.67. Akoustis Technologies has a fifty-two week low of $0.79 and a fifty-two week high of $4.96. The firm has a market cap of $60.80 million, a price-to-earnings ratio of -0.84 and a beta of 1.66.
Akoustis Technologies (NASDAQ:AKTS – Get Free Report) last issued its earnings results on Wednesday, September 6th. The technology company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). Akoustis Technologies had a negative return on equity of 63.41% and a negative net margin of 234.35%. The company had revenue of $8.33 million for the quarter, compared to the consensus estimate of $8.40 million. During the same quarter in the prior year, the company posted ($0.26) EPS. As a group, sell-side analysts expect that Akoustis Technologies will post -0.59 earnings per share for the current fiscal year.
Akoustis Technologies Company Profile
Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, designs, develops, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industry in the United States, Asia, Europe, and internationally. It operates through two segments, Foundry Fabrication Services and RF Filters.
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