Akoustis Technologies (NASDAQ:AKTS) Releases Earnings Results, Misses Estimates By $0.01 EPS

Akoustis Technologies (NASDAQ:AKTS) released its earnings results on Sunday. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.01), Briefing.com reports. Akoustis Technologies had a negative net margin of 2,077.27% and a negative return on equity of 72.62%. The company had revenue of $2.52 million during the quarter, compared to analyst estimates of $2.25 million. The firm’s quarterly revenue was up 594.2% compared to the same quarter last year.

Akoustis Technologies stock traded down $0.36 during mid-day trading on Tuesday, reaching $9.61. The company had a trading volume of 30,410 shares, compared to its average volume of 823,184. The business has a fifty day simple moving average of $12.62 and a 200 day simple moving average of $11.93. The company has a market cap of $407.40 million, a P/E ratio of -8.59 and a beta of 1.63. Akoustis Technologies has a fifty-two week low of $7.00 and a fifty-two week high of $19.15. The company has a current ratio of 9.40, a quick ratio of 9.34 and a debt-to-equity ratio of 0.70.

AKTS has been the topic of several recent analyst reports. Zacks Investment Research raised Akoustis Technologies from a “sell” rating to a “hold” rating in a research report on Tuesday, April 6th. Loop Capital increased their price target on shares of Akoustis Technologies from $11.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, January 5th. Oppenheimer raised their target price on shares of Akoustis Technologies from $15.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, January 28th. Craig Hallum raised their target price on shares of Akoustis Technologies from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, February 2nd. Finally, Roth Capital decreased their price objective on Akoustis Technologies from $25.00 to $16.00 and set a “buy” rating on the stock in a report on Monday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $16.00.

In other Akoustis Technologies news, EVP David Aichele sold 5,000 shares of the stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $13.72, for a total value of $68,600.00. Following the completion of the transaction, the executive vice president now directly owns 182,171 shares in the company, valued at $2,499,386.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey B. Shealy sold 15,000 shares of Akoustis Technologies stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $18.00, for a total value of $270,000.00. Following the sale, the chief executive officer now directly owns 1,136,239 shares in the company, valued at $20,452,302. The disclosure for this sale can be found here. Insiders have sold 428,242 shares of company stock valued at $5,819,948 over the last quarter. Company insiders own 13.70% of the company’s stock.

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 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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Earnings History for Akoustis Technologies (NASDAQ:AKTS)

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