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

Equities research analysts forecast that Akoustis Technologies, Inc. (NASDAQ:AKTS) will report earnings of ($0.20) per share for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Akoustis Technologies’ earnings, with estimates ranging from ($0.21) to ($0.19). Akoustis Technologies reported earnings of ($0.23) per share in the same quarter last year, which suggests a positive year over year growth rate of 13%. The business is scheduled to announce its next earnings results on Monday, November 1st.

According to Zacks, analysts expect that Akoustis Technologies will report full year earnings of ($0.65) per share for the current fiscal year, with EPS estimates ranging from ($0.73) to ($0.51). For the next financial year, analysts forecast that the business will report earnings of ($0.11) per share, with EPS estimates ranging from ($0.37) to $0.33. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Akoustis Technologies.

Akoustis Technologies (NASDAQ:AKTS) last issued its quarterly earnings data on Sunday, August 29th. The technology company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). Akoustis Technologies had a negative return on equity of 42.85% and a negative net margin of 667.21%. The firm had revenue of $2.20 million for the quarter, compared to the consensus estimate of $2.50 million. The business’s revenue was up 501.1% compared to the same quarter last year.

Separately, Zacks Investment Research cut Akoustis Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, September 2nd. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $17.40.

In related news, Director Steven Denbaars sold 7,000 shares of the stock in a transaction that occurred on Monday, July 12th. The stock was sold at an average price of $9.93, for a total transaction of $69,510.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 16,998 shares of company stock valued at $158,467. 13.70% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its position in Akoustis Technologies by 9.2% during the second quarter. Envestnet Asset Management Inc. now owns 18,125 shares of the technology company’s stock worth $194,000 after purchasing an additional 1,533 shares during the period. American International Group Inc. increased its stake in shares of Akoustis Technologies by 10.0% in the 1st quarter. American International Group Inc. now owns 21,071 shares of the technology company’s stock valued at $281,000 after purchasing an additional 1,922 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Akoustis Technologies during the 1st quarter worth $27,000. Texas Yale Capital Corp. lifted its position in shares of Akoustis Technologies by 20.0% during the 1st quarter. Texas Yale Capital Corp. now owns 12,000 shares of the technology company’s stock worth $160,000 after buying an additional 2,000 shares during the last quarter. Finally, Hayden Royal LLC grew its position in Akoustis Technologies by 15.2% in the second quarter. Hayden Royal LLC now owns 16,252 shares of the technology company’s stock valued at $174,000 after acquiring an additional 2,142 shares during the last quarter. Institutional investors own 48.68% of the company’s stock.

NASDAQ:AKTS traded down $0.05 during mid-day trading on Wednesday, hitting $9.67. 6,552 shares of the stock were exchanged, compared to its average volume of 647,237. The firm’s 50-day simple moving average is $9.46 and its 200 day simple moving average is $10.66. The stock has a market capitalization of $496.17 million, a price-to-earnings ratio of -9.44 and a beta of 1.39. Akoustis Technologies has a fifty-two week low of $7.40 and a fifty-two week high of $19.15.

Akoustis Technologies Company Profile

Akoustis Technologies, Inc is a filter solutions company, which engages in the development, design, and manufacture of radio frequency (RF) filter products. It operates through the Foundry Fabrication Services; and RF Filters segments. The Foundry Fabrication Services segment consists of engineering review services and STC-MEMS foundry services.

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

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