Analysts expect that Akoustis Technologies Inc (NASDAQ:AKTS) will report $570,000.00 in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Akoustis Technologies’ earnings. The lowest sales estimate is $510,000.00 and the highest is $600,000.00. The company is expected to issue its next quarterly earnings report on Friday, August 9th.
On average, analysts expect that Akoustis Technologies will report full-year sales of $1.40 million for the current fiscal year, with estimates ranging from $1.38 million to $1.42 million. For the next year, analysts anticipate that the company will report sales of $13.98 million, with estimates ranging from $8.50 million to $21.30 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Akoustis Technologies.
AKTS has been the topic of several recent research reports. Craig Hallum reiterated a “buy” rating and issued a $10.00 price objective (up previously from $8.00) on shares of Akoustis Technologies in a research note on Tuesday, February 5th. Zacks Investment Research upgraded shares of Akoustis Technologies from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Thursday, February 7th. Finally, Northland Securities cut shares of Akoustis Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $10.14.
In other Akoustis Technologies news, Director Steven Denbaars sold 7,000 shares of the firm’s 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 accessible through this hyperlink. In the last 90 days, insiders have sold 14,000 shares of company stock worth $94,525. 22.60% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AKTS. D.A. Davidson & CO. raised its stake in Akoustis Technologies by 13.7% during the 4th quarter. D.A. Davidson & CO. now owns 129,000 shares of the technology company’s stock worth $641,000 after acquiring an additional 15,500 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Akoustis Technologies by 16.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 50,400 shares of the technology company’s stock worth $250,000 after acquiring an additional 7,200 shares during the period. Eaton Vance Management bought a new stake in Akoustis Technologies during the 4th quarter worth approximately $329,000. BlackRock Inc. raised its stake in Akoustis Technologies by 4.2% during the 4th quarter. BlackRock Inc. now owns 41,547 shares of the technology company’s stock worth $206,000 after acquiring an additional 1,681 shares during the period. Finally, Bank of New York Mellon Corp bought a new stake in Akoustis Technologies during the 4th quarter worth approximately $230,000. Institutional investors own 21.73% of the company’s stock.
Shares of NASDAQ:AKTS traded up $0.21 during trading on Friday, hitting $6.96. The company’s stock had a trading volume of 330,737 shares, compared to its average volume of 314,510. Akoustis Technologies has a 12 month low of $3.40 and a 12 month high of $9.50. The company has a current ratio of 12.78, a quick ratio of 12.72 and a debt-to-equity ratio of 0.64.
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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