Akoustis Technologies Inc (NASDAQ:AKTS) – Stock analysts at Oppenheimer issued their Q1 2021 EPS estimates for shares of Akoustis Technologies in a research note issued on Wednesday, January 15th. Oppenheimer analyst R. Schafer forecasts that the technology company will post earnings per share of ($0.07) for the quarter. Oppenheimer also issued estimates for Akoustis Technologies’ Q2 2021 earnings at $0.06 EPS, Q3 2021 earnings at $0.11 EPS and Q4 2021 earnings at $0.14 EPS.
Akoustis Technologies (NASDAQ:AKTS) last released its earnings results on Thursday, November 7th. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.07). Akoustis Technologies had a negative net margin of 1,843.77% and a negative return on equity of 105.40%. The business had revenue of $0.54 million for the quarter, compared to analyst estimates of $0.59 million.
A number of other research analysts also recently issued reports on AKTS. Loop Capital restated a “buy” rating and set a $11.00 target price on shares of Akoustis Technologies in a research report on Wednesday, January 8th. Northland Securities cut their target price on shares of Akoustis Technologies from $7.40 to $7.00 and set a “market perform” rating on the stock in a research report on Friday, December 20th. BidaskClub downgraded shares of Akoustis Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. Finally, Zacks Investment Research upgraded shares of Akoustis Technologies from a “hold” rating to a “buy” rating and set a $9.75 target price on the stock in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.95.
Akoustis Technologies stock traded down $0.01 during trading hours on Friday, reaching $8.83. 8,541 shares of the company’s stock traded hands, compared to its average volume of 345,764. The company has a debt-to-equity ratio of 1.03, a quick ratio of 8.97 and a current ratio of 9.01. Akoustis Technologies has a fifty-two week low of $5.17 and a fifty-two week high of $9.25. The firm’s 50 day moving average is $8.09 and its 200-day moving average is $7.30.
In other news, CEO Jeffrey B. Shealy sold 30,000 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $7.63, for a total value of $228,900.00. Over the last ninety days, insiders sold 33,900 shares of company stock valued at $258,657. 18.00% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Akoustis Technologies in the 3rd quarter valued at about $373,000. State Street Corp increased its stake in shares of Akoustis Technologies by 4.1% in the 3rd quarter. State Street Corp now owns 385,580 shares of the technology company’s stock valued at $2,988,000 after acquiring an additional 15,208 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Akoustis Technologies by 100.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 87,146 shares of the technology company’s stock worth $558,000 after purchasing an additional 43,737 shares in the last quarter. BlackRock Inc. increased its stake in 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 purchasing an additional 1,486,322 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in 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 purchasing an additional 163,067 shares in the last quarter. 26.35% 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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