Akoustis Technologies (AKTS) to Release Quarterly Earnings on Monday

Akoustis Technologies (NASDAQ:AKTS – Get Rating) is set to post its quarterly earnings results before the market opens on Monday, May 2nd. Analysts expect Akoustis Technologies to post earnings of ($0.22) per share for the quarter.

Akoustis Technologies (NASDAQ:AKTS – Get Rating) last posted its earnings results on Monday, January 31st. The technology company reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The company had revenue of $4.55 million during the quarter, compared to analysts’ expectations of $3.70 million. Akoustis Technologies had a negative net margin of 473.95% and a negative return on equity of 33.74%. During the same quarter last year, the firm earned ($0.22) EPS. On average, analysts expect Akoustis Technologies to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

NASDAQ AKTS traded down $0.26 during trading on Tuesday, hitting $4.61. The company’s stock had a trading volume of 3,760 shares, compared to its average volume of 589,334. The company has a market cap of $252.04 million, a PE ratio of -4.80 and a beta of 1.33. The business’s 50 day simple moving average is $5.99 and its 200-day simple moving average is $6.51. Akoustis Technologies has a fifty-two week low of $4.58 and a fifty-two week high of $12.87.

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

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Stifel Financial Corp purchased a new position in shares of Akoustis Technologies in the 4th quarter valued at about $68,000. BNP Paribas Arbitrage SA grew its stake in Akoustis Technologies by 38.0% during the 4th quarter. BNP Paribas Arbitrage SA now owns 10,699 shares of the technology company’s stock worth $71,000 after buying an additional 2,947 shares during the last quarter. LPL Financial LLC purchased a new position in Akoustis Technologies during the 3rd quarter worth approximately $100,000. Two Sigma Investments LP purchased a new position in Akoustis Technologies during the 3rd quarter worth approximately $100,000. Finally, MetLife Investment Management LLC grew its stake in Akoustis Technologies by 121.6% during the 4th quarter. MetLife Investment Management LLC now owns 17,261 shares of the technology company’s stock worth $115,000 after buying an additional 9,470 shares during the last quarter. Institutional investors own 49.84% of the company’s stock.

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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