Akoustis Technologies Inc (NASDAQ:AKTS) Expected to Post Earnings of -$0.25 Per Share

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Wall Street analysts expect Akoustis Technologies Inc (NASDAQ:AKTS) to report ($0.25) earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have issued estimates for Akoustis Technologies’ earnings. The highest EPS estimate is ($0.15) and the lowest is ($0.30). The business is scheduled to report its next quarterly earnings report on Friday, August 9th.

On average, analysts expect that Akoustis Technologies will report full-year earnings of ($1.13) per share for the current financial year, with EPS estimates ranging from ($1.18) to ($1.02). For the next financial year, analysts expect that the business will post earnings of ($0.91) per share, with EPS estimates ranging from ($1.14) to ($0.36). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Akoustis Technologies.

Several research analysts recently weighed in on the company. Zacks Investment Research lowered Akoustis Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. Craig Hallum reaffirmed a “buy” rating and issued a $12.00 price objective (up previously from $10.00) on shares of Akoustis Technologies in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.14.

AKTS traded down $0.15 on Friday, hitting $7.03. 308,836 shares of the company were exchanged, compared to its average volume of 359,921. Akoustis Technologies has a twelve month low of $3.40 and a twelve month high of $9.50. The company has a debt-to-equity ratio of 0.64, a current ratio of 12.78 and a quick ratio of 12.72.

In other news, Director Steven Denbaars sold 7,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $6.58, for a total transaction of $46,060.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 22.60% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. North Run Capital LP bought a new position in shares of Akoustis Technologies in the 1st quarter valued at about $1,801,000. UBS Oconnor LLC acquired a new stake in shares of Akoustis Technologies during the 4th quarter worth about $1,138,000. Commonwealth Equity Services LLC lifted its stake in shares of Akoustis Technologies by 350.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 193,309 shares of the technology company’s stock worth $960,000 after buying an additional 150,410 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Akoustis Technologies by 265.4% during the 1st quarter. BlackRock Inc. now owns 151,820 shares of the technology company’s stock worth $882,000 after buying an additional 110,273 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of Akoustis Technologies by 25,725.0% during the 4th quarter. Barclays PLC now owns 103,300 shares of the technology company’s stock worth $513,000 after buying an additional 102,900 shares during the last quarter. Institutional investors own 22.65% of the company’s stock.

Akoustis Technologies Company Profile

Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, develops, designs, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industries in the United States. The company operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and smart systems technology and commercialization center foundry, as well as manufacturing and microelectromechanical systems foundry services.

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

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