Brokerages predict that Akoustis Technologies Inc (NASDAQ:AKTS) will report sales of $550,000.00 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Akoustis Technologies’ earnings, with the lowest sales estimate coming in at $500,000.00 and the highest estimate coming in at $600,000.00. Akoustis Technologies reported sales of $320,000.00 in the same quarter last year, which would suggest a positive year-over-year growth rate of 71.9%. The business is scheduled to issue its next earnings report on Monday, February 3rd.
According to Zacks, analysts expect that Akoustis Technologies will report full year sales of $4.75 million for the current fiscal year, with estimates ranging from $3.20 million to $6.10 million. For the next fiscal year, analysts anticipate that the firm will report sales of $38.10 million, with estimates ranging from $15.80 million to $69.51 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Akoustis Technologies.
Akoustis Technologies (NASDAQ:AKTS) last posted its earnings results on Thursday, November 7th. The technology company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $0.54 million during the quarter, compared to analysts’ expectations of $0.59 million.
AKTS traded up $0.10 on Friday, hitting $8.28. The company had a trading volume of 348,100 shares, compared to its average volume of 407,899. The stock has a fifty day moving average price of $8.26 and a 200-day moving average price of $7.44. Akoustis Technologies has a 12-month low of $5.17 and a 12-month high of $9.25. The company has a debt-to-equity ratio of 1.03, a current ratio of 9.01 and a quick ratio of 8.97.
In other news, CEO Jeffrey B. Shealy sold 30,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $7.63, for a total transaction of $228,900.00. Insiders have sold 33,900 shares of company stock worth $258,657 in the last 90 days. Insiders own 18.00% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Virtu Financial LLC purchased a new stake in shares of Akoustis Technologies during the third quarter worth approximately $373,000. State Street Corp increased its position in shares of Akoustis Technologies by 4.1% during the third quarter. State Street Corp now owns 385,580 shares of the technology company’s stock worth $2,988,000 after purchasing an additional 15,208 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Akoustis Technologies by 100.8% during the second 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 position in shares of Akoustis Technologies by 979.0% during the second 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, Endurance Wealth Management Inc. increased its position in shares of Akoustis Technologies by 263.2% during the fourth quarter. Endurance Wealth Management Inc. now owns 6,900 shares of the technology company’s stock worth $55,000 after purchasing an additional 5,000 shares in the last quarter. 26.35% of the stock is owned by institutional investors and hedge funds.
Akoustis Technologies Company Profile
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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