Wall Street analysts predict that Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Rating) will report $6.18 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Akoustis Technologies’ earnings, with the highest sales estimate coming in at $6.25 million and the lowest estimate coming in at $6.10 million. Akoustis Technologies posted sales of $2.16 million during the same quarter last year, which would indicate a positive year over year growth rate of 186.1%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Akoustis Technologies will report full-year sales of $16.31 million for the current fiscal year, with estimates ranging from $16.24 million to $16.40 million. For the next fiscal year, analysts expect that the firm will report sales of $44.67 million, with estimates ranging from $39.40 million to $51.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Akoustis Technologies.
Akoustis Technologies (NASDAQ:AKTS – Get Rating) last released its quarterly earnings data on Monday, May 2nd. The technology company reported ($0.22) EPS for the quarter, meeting the consensus estimate of ($0.22). Akoustis Technologies had a negative net margin of 430.10% and a negative return on equity of 38.00%. The business had revenue of $4.60 million during the quarter, compared to analyst estimates of $4.61 million. During the same quarter last year, the business earned ($0.15) earnings per share. Akoustis Technologies’s quarterly revenue was up 84.0% compared to the same quarter last year.
In other news, EVP David Aichele sold 5,000 shares of the firm’s stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $5.93, for a total value of $29,650.00. Following the sale, the executive vice president now directly owns 191,810 shares in the company, valued at approximately $1,137,433.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.70% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in AKTS. Elemental Capital Partners LLC boosted its stake in Akoustis Technologies by 32.0% in the 4th quarter. Elemental Capital Partners LLC now owns 2,365,027 shares of the technology company’s stock worth $13,930,000 after purchasing an additional 573,677 shares in the last quarter. Handelsbanken Fonder AB raised its position in Akoustis Technologies by 45.6% during the 4th quarter. Handelsbanken Fonder AB now owns 1,820,000 shares of the technology company’s stock worth $12,158,000 after buying an additional 570,000 shares during the last quarter. Millennium Management LLC raised its position in Akoustis Technologies by 1,590.6% during the 3rd quarter. Millennium Management LLC now owns 366,394 shares of the technology company’s stock worth $3,554,000 after buying an additional 344,722 shares during the last quarter. Penserra Capital Management LLC raised its position in Akoustis Technologies by 51.9% during the 4th quarter. Penserra Capital Management LLC now owns 954,824 shares of the technology company’s stock worth $6,378,000 after buying an additional 326,440 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Akoustis Technologies during the 4th quarter worth approximately $1,440,000. Institutional investors own 50.16% of the company’s stock.
AKTS stock opened at $4.29 on Monday. Akoustis Technologies has a 52 week low of $4.22 and a 52 week high of $11.50. The company has a fifty day simple moving average of $5.71 and a two-hundred day simple moving average of $6.27. The firm has a market capitalization of $240.08 million, a P/E ratio of -4.25 and a beta of 1.47.
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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