Akoustis Technologies (AKTS) Scheduled to Post Quarterly Earnings on Monday

Akoustis Technologies (NASDAQ:AKTS) is set to announce its earnings results before the market opens on Monday, November 13th. Analysts expect the company to announce earnings of ($0.18) per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Akoustis Technologies (NASDAQ:AKTS) last released its quarterly earnings results on Wednesday, September 6th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). The business had revenue of $8.33 million for the quarter, compared to analysts’ expectations of $8.40 million. Akoustis Technologies had a negative net margin of 234.35% and a negative return on equity of 63.41%. During the same period in the previous year, the company earned ($0.26) EPS. On average, analysts expect Akoustis Technologies to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Akoustis Technologies Price Performance

Akoustis Technologies stock opened at $0.56 on Friday. The company has a market cap of $40.53 million, a price-to-earnings ratio of -0.56 and a beta of 1.69. The firm’s fifty day moving average is $0.78 and its 200 day moving average is $2.01. The company has a quick ratio of 2.98, a current ratio of 3.41 and a debt-to-equity ratio of 0.51. Akoustis Technologies has a 52-week low of $0.46 and a 52-week high of $4.96.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AKTS shares. B. Riley downgraded shares of Akoustis Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the company from $9.25 to $1.75 in a research note on Wednesday, September 6th. Oppenheimer lowered their target price on shares of Akoustis Technologies from $6.00 to $3.00 and set an “outperform” rating for the company in a report on Thursday, September 7th.

Institutional Investors Weigh In On Akoustis Technologies

Several institutional investors have recently made changes to their positions in the company. UBS Group AG increased its stake in Akoustis Technologies by 4.6% in the 3rd quarter. UBS Group AG now owns 430,407 shares of the technology company’s stock worth $324,000 after buying an additional 18,835 shares during the period. Nuveen Asset Management LLC increased its stake in Akoustis Technologies by 13.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 148,520 shares of the technology company’s stock worth $472,000 after buying an additional 18,091 shares during the period. Wells Fargo & Company MN increased its stake in Akoustis Technologies by 53.5% in the 2nd quarter. Wells Fargo & Company MN now owns 40,460 shares of the technology company’s stock worth $129,000 after buying an additional 14,103 shares during the period. State of Wyoming increased its stake in Akoustis Technologies by 176.3% in the 2nd quarter. State of Wyoming now owns 8,975 shares of the technology company’s stock worth $29,000 after buying an additional 5,727 shares during the period. Finally, State of Wisconsin Investment Board increased its stake in Akoustis Technologies by 15.6% in the 2nd quarter. State of Wisconsin Investment Board now owns 179,300 shares of the technology company’s stock worth $570,000 after buying an additional 24,200 shares during the period. Institutional investors own 52.07% of the company’s stock.

About Akoustis Technologies

Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, designs, develops, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industry in the United States, Asia, Europe, and internationally. It operates through Foundry Fabrication Services and RF Filters segments.