Analysts Expect Akoustis Technologies, Inc. (NASDAQ:AKTS) Will Post Earnings of -$0.20 Per Share

Wall Street analysts expect Akoustis Technologies, Inc. (NASDAQ:AKTSGet Rating) to post earnings per share (EPS) of ($0.20) for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Akoustis Technologies’ earnings, with estimates ranging from ($0.22) to ($0.15). Akoustis Technologies reported earnings of ($0.19) per share during the same quarter last year, which indicates a negative year-over-year growth rate of 5.3%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Akoustis Technologies will report full year earnings of ($0.88) per share for the current year. For the next financial year, analysts forecast that the company will report earnings of ($0.54) per share, with EPS estimates ranging from ($0.80) to ($0.26). Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Akoustis Technologies.

Akoustis Technologies (NASDAQ:AKTSGet Rating) last posted its earnings results on Monday, May 2nd. The technology company reported ($0.22) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.22). Akoustis Technologies had a negative return on equity of 38.00% and a negative net margin of 430.10%. The company had revenue of $4.60 million for the quarter, compared to analyst estimates of $4.61 million. During the same quarter last year, the company earned ($0.15) earnings per share. The company’s revenue for the quarter was up 84.0% on a year-over-year basis.

A number of research analysts have recently weighed in on the company. Piper Sandler dropped their target price on Akoustis Technologies from $10.50 to $7.00 in a report on Monday, May 2nd. Zacks Investment Research upgraded Akoustis Technologies from a “hold” rating to a “buy” rating and set a $4.00 price target on the stock in a report on Tuesday.

In related news, EVP David Aichele sold 5,000 shares of Akoustis Technologies stock in a transaction on Friday, April 8th. The stock was sold at an average price of $5.93, for a total transaction of $29,650.00. Following the sale, the executive vice president now directly owns 191,810 shares in the company, valued at $1,137,433.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in Akoustis Technologies by 5.4% in the first quarter. BlackRock Inc. now owns 3,125,796 shares of the technology company’s stock worth $20,317,000 after buying an additional 159,859 shares during the last quarter. Elemental Capital Partners LLC increased its position in Akoustis Technologies by 8.0% in the first quarter. Elemental Capital Partners LLC now owns 2,554,738 shares of the technology company’s stock worth $16,606,000 after buying an additional 189,711 shares during the last quarter. Handelsbanken Fonder AB increased its position in Akoustis Technologies by 7.1% in the first quarter. Handelsbanken Fonder AB now owns 1,950,000 shares of the technology company’s stock worth $12,675,000 after buying an additional 130,000 shares during the last quarter. Granahan Investment Management LLC increased its position in Akoustis Technologies by 53.2% in the first quarter. Granahan Investment Management LLC now owns 1,753,426 shares of the technology company’s stock worth $11,397,000 after buying an additional 608,886 shares during the last quarter. Finally, Silverback Asset Management LLC increased its position in 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 worth $7,682,000 after buying an additional 142,296 shares during the last quarter. 50.16% of the stock is owned by institutional investors and hedge funds.

AKTS stock opened at $4.25 on Friday. Akoustis Technologies has a twelve month low of $3.25 and a twelve month high of $11.50. The stock’s 50 day moving average is $5.05 and its 200-day moving average is $5.88. The firm has a market capitalization of $237.84 million, a PE ratio of -4.21 and a beta of 1.47.

Akoustis Technologies Company Profile (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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Earnings History and Estimates for Akoustis Technologies (NASDAQ:AKTS)

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