Equities analysts expect Akoustis Technologies Inc (NASDAQ:AKTS) to announce $550,000.00 in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Akoustis Technologies’ earnings, with estimates ranging from $400,000.00 to $700,000.00. The business is scheduled to issue its next earnings results on Tuesday, September 25th.
On average, analysts expect that Akoustis Technologies will report full year sales of $1.55 million for the current financial year, with estimates ranging from $1.40 million to $1.70 million. For the next fiscal year, analysts forecast that the firm will post sales of $2.67 million, with estimates ranging from $2.40 million to $2.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Akoustis Technologies.
Several equities research analysts have recently weighed in on the company. Oppenheimer began coverage on Akoustis Technologies in a report on Thursday, August 30th. They issued an “outperform” rating and a $10.00 price objective for the company. Loop Capital began coverage on Akoustis Technologies in a research note on Thursday, June 21st. They set a “buy” rating and a $15.00 price target for the company. Finally, Roth Capital upped their price target on Akoustis Technologies to $10.00 and gave the stock a “buy” rating in a research note on Thursday, June 21st. Five research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average target price of $12.50.
Shares of AKTS stock traded down $0.36 during trading hours on Tuesday, hitting $7.95. The stock had a trading volume of 86,349 shares, compared to its average volume of 68,682. Akoustis Technologies has a twelve month low of $4.86 and a twelve month high of $9.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.01 and a quick ratio of 5.99.
In other news, VP David Aichele sold 3,700 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $7.68, for a total transaction of $28,416.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey Mcmahon sold 3,230 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $8.24, for a total value of $26,615.20. The disclosure for this sale can be found here. Insiders have sold 14,130 shares of company stock valued at $110,255 in the last 90 days. Company insiders own 22.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Akoustis Technologies by 13.1% in the first quarter. BlackRock Inc. now owns 452,865 shares of the technology company’s stock worth $2,639,000 after acquiring an additional 52,572 shares in the last quarter. Millennium Management LLC raised its position in Akoustis Technologies by 145.4% in the second quarter. Millennium Management LLC now owns 301,087 shares of the technology company’s stock worth $2,189,000 after acquiring an additional 178,419 shares in the last quarter. Financial Advocates Investment Management raised its position in Akoustis Technologies by 14.6% in the second quarter. Financial Advocates Investment Management now owns 259,150 shares of the technology company’s stock worth $1,884,000 after acquiring an additional 33,000 shares in the last quarter. Salem Investment Counselors Inc. raised its position in Akoustis Technologies by 3,061.7% in the second quarter. Salem Investment Counselors Inc. now owns 142,275 shares of the technology company’s stock worth $1,034,000 after acquiring an additional 137,775 shares in the last quarter. Finally, Northern Trust Corp raised its position in Akoustis Technologies by 36.3% in the first quarter. Northern Trust Corp now owns 134,222 shares of the technology company’s stock worth $783,000 after acquiring an additional 35,713 shares in the last quarter. Hedge funds and other institutional investors own 14.58% 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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