Equities analysts forecast that Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Rating) will post $6.18 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Akoustis Technologies’ earnings, with estimates ranging from $6.10 million to $6.25 million. Akoustis Technologies reported sales of $2.16 million in the same quarter last year, which indicates a positive year-over-year growth rate of 186.1%. The firm is expected to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Akoustis Technologies will report full year sales of $16.31 million for the current year, with estimates ranging from $16.24 million to $16.40 million. For the next fiscal year, analysts expect that the company will post sales of $44.67 million, with estimates ranging from $39.40 million to $51.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Akoustis Technologies.
Akoustis Technologies (NASDAQ:AKTS – Get Rating) last issued its earnings results on Monday, May 2nd. The technology company reported ($0.22) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.22). Akoustis Technologies had a negative net margin of 430.10% and a negative return on equity of 38.00%. The company had revenue of $4.60 million for the quarter, compared to analysts’ expectations of $4.61 million. During the same period in the prior year, the business earned ($0.15) EPS. The firm’s quarterly revenue was up 84.0% on a year-over-year basis.
Akoustis Technologies stock traded up $0.25 during midday trading on Monday, hitting $3.89. 508,889 shares of the company’s stock were exchanged, compared to its average volume of 638,925. The company has a market cap of $217.68 million, a PE ratio of -3.85 and a beta of 1.47. The firm has a 50-day moving average of $5.49 and a two-hundred day moving average of $6.16. Akoustis Technologies has a 12 month low of $3.52 and a 12 month high of $11.50.
In other news, EVP David Aichele sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $5.93, for a total value of $29,650.00. Following the completion of the sale, the executive vice president now directly owns 191,810 shares in the company, valued at $1,137,433.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.70% of the company’s stock.
Large investors have recently bought and sold shares of the business. Sandy Cove Advisors LLC purchased a new stake in shares of Akoustis Technologies during the fourth quarter worth $34,000. Hohimer Wealth Management LLC acquired a new position in Akoustis Technologies during the first quarter worth about $65,000. Stifel Financial Corp purchased a new stake in Akoustis Technologies during the 4th quarter valued at about $68,000. ProShare Advisors LLC acquired a new stake in Akoustis Technologies in the 4th quarter valued at about $71,000. Finally, BNP Paribas Arbitrage SA lifted its stake in Akoustis Technologies by 38.0% in the 4th quarter. BNP Paribas Arbitrage SA now owns 10,699 shares of the technology company’s stock worth $71,000 after purchasing an additional 2,947 shares in the last quarter. Institutional investors own 50.16% of the company’s stock.
Akoustis Technologies Company Profile (Get Rating)
Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, develops, designs, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industry in the United States. It operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and semiconductor wafer-manufacturing and microelectromechanical systems foundry services.
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