Q3 2024 EPS Estimates for Akoustis Technologies, Inc. (NASDAQ:AKTS) Boosted by B. Riley

Akoustis Technologies, Inc. (NASDAQ:AKTS) – Analysts at B. Riley increased their Q3 2024 earnings per share (EPS) estimates for Akoustis Technologies in a report issued on Monday, April 22nd. B. Riley analyst C. Ellis now expects that the technology company will post earnings per share of ($0.16) for the quarter, up from their previous forecast of ($0.17). The consensus estimate for Akoustis Technologies’ current full-year earnings is ($0.68) per share. B. Riley also issued estimates for Akoustis Technologies’ Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.76) EPS, Q2 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.37) EPS.

Separately, Piper Sandler lowered Akoustis Technologies from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $2.00 to $1.00 in a report on Thursday, January 4th.

Akoustis Technologies Trading Down 8.0 %

AKTS opened at $0.56 on Wednesday. Akoustis Technologies has a 52 week low of $0.45 and a 52 week high of $3.57. The business has a fifty day simple moving average of $0.60 and a 200-day simple moving average of $0.65. The firm has a market cap of $54.77 million, a P/E ratio of -0.57 and a beta of 1.71. The company has a quick ratio of 1.44, a current ratio of 1.82 and a debt-to-equity ratio of 0.80.

Akoustis Technologies (NASDAQ:AKTS) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.01). Akoustis Technologies had a negative return on equity of 80.80% and a negative net margin of 232.77%. The firm had revenue of $7.02 million for the quarter, compared to analysts’ expectations of $6.99 million. During the same quarter in the prior year, the business earned ($0.19) earnings per share.

Institutional Trading of Akoustis Technologies

Institutional investors have recently bought and sold shares of the business. Marathon Capital Management lifted its holdings in Akoustis Technologies by 108.2% during the 4th quarter. Marathon Capital Management now owns 35,600 shares of the technology company’s stock worth $30,000 after buying an additional 18,500 shares during the last quarter. Griffin Asset Management Inc. purchased a new stake in Akoustis Technologies during the 4th quarter worth about $33,000. Providence Capital Advisors LLC lifted its holdings in Akoustis Technologies by 492.6% during the 3rd quarter. Providence Capital Advisors LLC now owns 60,150 shares of the technology company’s stock worth $45,000 after buying an additional 50,000 shares during the last quarter. Crestwood Advisors Group LLC acquired a new stake in shares of Akoustis Technologies during the third quarter worth about $84,000. Finally, Perkins Capital Management Inc. increased its position in shares of Akoustis Technologies by 10.8% during the third quarter. Perkins Capital Management Inc. now owns 597,500 shares of the technology company’s stock worth $450,000 after purchasing an additional 58,250 shares in the last quarter. 28.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Akoustis Technologies

In related news, CFO Kenneth Boller bought 60,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $0.50 per share, for a total transaction of $30,000.00. Following the completion of the acquisition, the chief financial officer now owns 214,957 shares in the company, valued at approximately $107,478.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Akoustis Technologies news, CFO Kenneth Boller purchased 60,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was bought at an average cost of $0.50 per share, with a total value of $30,000.00. Following the acquisition, the chief financial officer now directly owns 214,957 shares of the company’s stock, valued at $107,478.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey B. Shealy purchased 1,310,000 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were acquired at an average cost of $0.50 per share, with a total value of $655,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,222,775 shares in the company, valued at $1,111,387.50. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 1,500,000 shares of company stock worth $750,000. Company insiders own 5.60% of the company’s stock.

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 Foundry Fabrication Services and RF Filters segments.