-$0.22 Earnings Per Share Expected for Akoustis Technologies, Inc. (NASDAQ:AKTS) This Quarter

Brokerages expect that Akoustis Technologies, Inc. (NASDAQ:AKTSGet Rating) will post earnings of ($0.22) per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Akoustis Technologies’ earnings. The highest EPS estimate is ($0.19) and the lowest is ($0.24). Akoustis Technologies posted earnings per share of ($0.15) during the same quarter last year, which would suggest a negative year over year growth rate of 46.7%. The business is expected to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Akoustis Technologies will report full year earnings of ($0.90) per share for the current fiscal year, with EPS estimates ranging from ($0.91) to ($0.88). For the next year, analysts forecast that the company will post earnings of ($0.55) per share, with EPS estimates ranging from ($0.80) to ($0.27). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Akoustis Technologies.

Akoustis Technologies (NASDAQ:AKTSGet Rating) last posted its earnings results on Monday, January 31st. The technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The company had revenue of $4.55 million for the quarter, compared to analyst estimates of $3.70 million. Akoustis Technologies had a negative return on equity of 33.74% and a negative net margin of 473.95%. During the same period last year, the business earned ($0.22) earnings per share.

Separately, Zacks Investment Research downgraded Akoustis Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, February 3rd.

In other news, Director James Michael Mcguire bought 17,800 shares of the firm’s stock in a transaction dated Monday, February 7th. The shares were acquired at an average price of $5.62 per share, for a total transaction of $100,036.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Aichele sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $5.93, for a total value of $29,650.00. Following the completion of the transaction, the executive vice president now owns 191,810 shares in the company, valued at approximately $1,137,433.30. The disclosure for this sale can be found here. Corporate insiders own 5.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Akoustis Technologies by 7.2% in the fourth quarter. BlackRock Inc. now owns 2,965,937 shares of the technology company’s stock valued at $19,813,000 after acquiring an additional 198,756 shares in the last quarter. Elemental Capital Partners LLC increased its holdings in shares of Akoustis Technologies by 32.0% in the fourth quarter. Elemental Capital Partners LLC now owns 2,365,027 shares of the technology company’s stock valued at $13,930,000 after purchasing an additional 573,677 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Akoustis Technologies by 45.6% in the fourth quarter. Handelsbanken Fonder AB now owns 1,820,000 shares of the technology company’s stock valued at $12,158,000 after purchasing an additional 570,000 shares during the last quarter. Silverback Asset Management LLC increased its holdings in shares of Akoustis Technologies by 14.1% in the fourth quarter. Silverback Asset Management LLC now owns 1,150,000 shares of the technology company’s stock valued at $7,682,000 after purchasing an additional 142,296 shares during the last quarter. Finally, Senvest Management LLC increased its holdings in shares of Akoustis Technologies by 8.9% in the fourth quarter. Senvest Management LLC now owns 1,096,716 shares of the technology company’s stock valued at $7,326,000 after purchasing an additional 89,853 shares during the last quarter. Institutional investors and hedge funds own 49.84% of the company’s stock.

AKTS stock traded down $0.14 during mid-day trading on Friday, reaching $5.56. 434,743 shares of the company’s stock were exchanged, compared to its average volume of 466,389. The company has a market cap of $303.97 million, a price-to-earnings ratio of -5.79 and a beta of 1.33. The stock’s 50 day moving average is $6.07 and its 200 day moving average is $6.71. Akoustis Technologies has a 12-month low of $4.58 and a 12-month high of $12.87.

About Akoustis Technologies (Get Rating)

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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