Equities analysts expect that Akoustis Technologies Inc (NASDAQ:AKTS) will announce sales of $510,000.00 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Akoustis Technologies’ earnings. The lowest sales estimate is $500,000.00 and the highest is $520,000.00. Akoustis Technologies reported sales of $240,000.00 in the same quarter last year, which indicates a positive year over year growth rate of 112.5%. The business is scheduled to issue its next earnings report on Friday, May 8th.
According to Zacks, analysts expect that Akoustis Technologies will report full year sales of $2.36 million for the current fiscal year, with estimates ranging from $2.30 million to $2.48 million. For the next financial year, analysts expect that the firm will post sales of $24.78 million, with estimates ranging from $23.00 million to $26.35 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Akoustis Technologies.
Akoustis Technologies (NASDAQ:AKTS) last announced its quarterly earnings results on Monday, February 3rd. The technology company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.04). The company had revenue of $0.52 million during the quarter, compared to analyst estimates of $0.55 million. Akoustis Technologies had a negative net margin of 1,791.55% and a negative return on equity of 98.09%.
In other news, CEO Jeffrey B. Shealy sold 30,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $7.63, for a total value of $228,900.00. Company insiders own 18.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AKTS. 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 buying an additional 1,486,322 shares during the period. Silverback Asset Management LLC increased its stake in Akoustis Technologies by 139.4% during the 4th quarter. Silverback Asset Management LLC now owns 1,103,156 shares of the technology company’s stock worth $8,825,000 after buying an additional 642,294 shares during the period. Senvest Management LLC purchased a new stake in Akoustis Technologies during the 4th quarter worth $3,840,000. Taylor Frigon Capital Management LLC purchased a new stake in Akoustis Technologies during the 4th quarter worth $1,501,000. 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 buying an additional 163,067 shares during the period. 40.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AKTS traded down $0.42 during mid-day trading on Monday, reaching $7.57. The company had a trading volume of 387,478 shares, compared to its average volume of 399,708. The firm has a fifty day simple moving average of $8.09 and a 200-day simple moving average of $7.72. Akoustis Technologies has a fifty-two week low of $5.17 and a fifty-two week high of $9.25. The company has a quick ratio of 11.71, a current ratio of 11.73 and a debt-to-equity ratio of 0.47.
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.
Read More: Diversification For Individual Investors
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Akoustis Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akoustis Technologies and related companies with MarketBeat.com's FREE daily email newsletter.