Q3 2024 EPS Estimates for Akoustis Technologies, Inc. (NASDAQ:AKTS) Boosted by B. Riley

Akoustis Technologies, Inc. (NASDAQ:AKTS) – B. Riley upped their Q3 2024 earnings estimates for Akoustis Technologies in a note issued to investors on Monday, April 22nd. B. Riley analyst C. Ellis now anticipates that the technology company will post earnings of ($0.16) per share for the quarter, up from their prior forecast of ($0.17). The consensus estimate for Akoustis Technologies’ current full-year earnings is ($0.68) per share. B. Riley also issued estimates for Akoustis Technologies’ Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.76) EPS, Q2 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.37) EPS.

Separately, Piper Sandler cut shares of Akoustis Technologies from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $2.00 to $1.00 in a research note on Thursday, January 4th.

Akoustis Technologies Stock Performance

NASDAQ AKTS opened at $0.56 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.82 and a debt-to-equity ratio of 0.80. The stock has a market cap of $54.77 million, a P/E ratio of -0.57 and a beta of 1.71. Akoustis Technologies has a twelve month low of $0.45 and a twelve month high of $3.57. The company’s 50-day simple moving average is $0.60 and its 200 day simple moving average is $0.65.

Akoustis Technologies (NASDAQ:AKTS) last posted its earnings results on Tuesday, February 13th. The technology company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). The business had revenue of $7.02 million during the quarter, compared to the consensus estimate of $6.99 million. Akoustis Technologies had a negative net margin of 232.77% and a negative return on equity of 80.80%. During the same period in the previous year, the firm earned ($0.19) EPS.

Hedge Funds Weigh In On Akoustis Technologies

A number of large investors have recently modified their holdings of the stock. Taylor Frigon Capital Management LLC lifted its position in shares of Akoustis Technologies by 303.4% during the first quarter. Taylor Frigon Capital Management LLC now owns 3,358,195 shares of the technology company’s stock worth $1,985,000 after purchasing an additional 2,525,823 shares in the last quarter. West Tower Group LLC lifted its position in shares of Akoustis Technologies by 17.9% during the fourth quarter. West Tower Group LLC now owns 882,407 shares of the technology company’s stock worth $736,000 after purchasing an additional 134,011 shares in the last quarter. Marathon Capital Management lifted its position in shares of Akoustis Technologies by 108.2% during the fourth quarter. Marathon Capital Management now owns 35,600 shares of the technology company’s stock worth $30,000 after purchasing an additional 18,500 shares in the last quarter. Griffin Asset Management Inc. acquired a new position in shares of Akoustis Technologies during the fourth quarter worth approximately $33,000. Finally, Crestwood Advisors Group LLC acquired a new position in shares of Akoustis Technologies during the third quarter worth approximately $84,000. 28.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Kenneth Boller acquired 60,000 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were purchased at an average cost of $0.50 per share, with a total value of $30,000.00. Following the completion of the purchase, the chief financial officer now owns 214,957 shares of the company’s stock, valued at $107,478.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Kenneth Boller bought 60,000 shares of Akoustis Technologies stock in a transaction dated Monday, January 29th. The shares were bought at an average cost of $0.50 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the chief financial officer now owns 214,957 shares of the company’s stock, valued at $107,478.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey B. Shealy bought 1,310,000 shares of Akoustis Technologies stock in a transaction dated Monday, January 29th. The shares were bought at an average price of $0.50 per share, for a total transaction of $655,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,222,775 shares of the company’s stock, valued at approximately $1,111,387.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 1,500,000 shares of company stock valued at $750,000. 5.60% of the stock is currently owned by insiders.

Akoustis Technologies Company Profile

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.