Zacks: Analysts Anticipate Akoustis Technologies Inc (NASDAQ:AKTS) Will Post Earnings of -$0.21 Per Share

Wall Street analysts forecast that Akoustis Technologies Inc (NASDAQ:AKTS) will post earnings of ($0.21) per share for the current quarter, Zacks reports. Three analysts have provided estimates for Akoustis Technologies’ earnings. The highest EPS estimate is ($0.17) and the lowest is ($0.27). Akoustis Technologies reported earnings of ($0.26) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 19.2%. The company is scheduled to issue its next earnings results on Friday, May 8th.

On average, analysts expect that Akoustis Technologies will report full-year earnings of ($0.91) per share for the current fiscal year, with EPS estimates ranging from ($1.04) to ($0.83). For the next financial year, analysts forecast that the business will report earnings of ($0.46) per share, with EPS estimates ranging from ($0.80) to ($0.22). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Akoustis Technologies.

Akoustis Technologies (NASDAQ:AKTS) last released its quarterly earnings data on Monday, February 3rd. The technology company reported ($0.30) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.04). Akoustis Technologies had a negative return on equity of 98.09% and a negative net margin of 1,791.55%. The company had revenue of $0.52 million during the quarter, compared to analysts’ expectations of $0.55 million.

Several brokerages have recently weighed in on AKTS. Northland Securities reduced their target price on Akoustis Technologies from $7.40 to $7.00 and set a “market perform” rating for the company in a research note on Friday, December 20th. Zacks Investment Research downgraded Akoustis Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Loop Capital reaffirmed a “buy” rating and set a $11.00 target price on shares of Akoustis Technologies in a research note on Wednesday, January 8th. Finally, BidaskClub raised Akoustis Technologies from a “strong sell” rating to a “sell” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.95.

In related news, CEO Jeffrey B. Shealy sold 30,000 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $7.63, for a total value of $228,900.00. Over the last ninety days, insiders have sold 33,900 shares of company stock valued at $258,657. Corporate insiders own 18.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of AKTS. Bank of Montreal Can raised its stake in Akoustis Technologies by 93.0% in the 4th quarter. Bank of Montreal Can now owns 4,247 shares of the technology company’s stock valued at $34,000 after purchasing an additional 2,047 shares during the last quarter. CWM LLC acquired a new position in Akoustis Technologies in the 3rd quarter valued at $44,000. Endurance Wealth Management Inc. increased its stake in shares of Akoustis Technologies by 263.2% in the 4th quarter. Endurance Wealth Management Inc. now owns 6,900 shares of the technology company’s stock worth $55,000 after acquiring an additional 5,000 shares during the last quarter. Citigroup Inc. increased its stake in shares of Akoustis Technologies by 470.0% in the 4th quarter. Citigroup Inc. now owns 7,097 shares of the technology company’s stock worth $57,000 after acquiring an additional 5,852 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Akoustis Technologies in the 4th quarter worth $81,000. 29.12% of the stock is owned by hedge funds and other institutional investors.

Shares of AKTS stock traded up $0.06 during trading hours on Friday, hitting $8.21. 260,026 shares of the company’s stock were exchanged, compared to its average volume of 402,374. The company has a current ratio of 11.73, a quick ratio of 11.71 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $8.11 and a two-hundred day moving average of $7.67. Akoustis Technologies has a fifty-two week low of $5.17 and a fifty-two week high of $9.25.

About Akoustis Technologies

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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