– Earnings per share of $0.22 expected for Akoustis Technologies, Inc. (NASDAQ:AKTS) this quarter
Brokers expect Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Rating) to post earnings of ($0.22) per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates on the profits of Akoustis Technologies. The highest EPS estimate is ($0.19) and the lowest is ($0.24). Akoustis Technologies posted earnings per share of ($0.15) in the same quarter last year, suggesting a negative year-over-year growth rate of 46.7%. The company is expected to announce its next results on Monday, January 1.
According to Zacks, analysts expect Akoustis Technologies to report full year earnings of ($0.90) per share for the current fiscal year, with EPS estimates ranging from ($0.91) to ( $0.88). For next year, analysts expect the company to post earnings of ($0.55) per share, with EPS estimates ranging from ($0.80) to ($0.27). Zacks Investment Research’s EPS calculations are an average average based on a survey of research companies that provide coverage for Akoustis Technologies.
Akoustis Technologies (NASDAQ:AKTS – Get Rating) last reported results on Monday, January 31. The technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). The company posted revenue of $4.55 million for the quarter, versus analyst estimates of $3.70 million. Akoustis Technologies posted a negative return on equity of 33.74% and a negative net margin of 473.95%. During the same period last year, the company made earnings per share ($0.22).
Separately, Zacks Investment Research downgraded Akoustis Technologies from a “buy” rating to a “hold” rating in a Thursday, February 3, research report.
Separately, director James Michael Mcguire purchased 17,800 shares of the company in a transaction dated Monday, February 7. The shares were acquired at an average price of $5.62 per share, for a total transaction of $100,036.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this link. Additionally, Executive Vice President David Aichele sold 5,000 shares of the company in a transaction that took place on Friday, April 8. The shares were sold at an average price of $5.93, for a total value of $29,650.00. Following the completion of the transaction, the executive vice president now owns 191,810 shares of the company, valued at approximately $1,137,433.30. The disclosure of this sale can be found here. Company insiders own 5.70% of the company’s shares.
Several hedge funds and other institutional investors have recently increased or reduced their stake in the company. BlackRock Inc. increased its position in shares of Akoustis Technologies by 7.2% in the fourth quarter. BlackRock Inc. now owns 2,965,937 shares of the technology company valued at $19,813,000 after acquiring an additional 198,756 shares last quarter. Elemental Capital Partners LLC increased its equity stake in Akoustis Technologies by 32.0% in the fourth quarter. Elemental Capital Partners LLC now owns 2,365,027 shares of the technology company valued at $13,930,000 after purchasing an additional 573,677 shares in the last quarter. Handelsbanken Fonder AB increased its equity stake in Akoustis Technologies by 45.6% in the fourth quarter. Handelsbanken Fonder AB now owns 1,820,000 shares of the technology company valued at $12,158,000 after buying an additional 570,000 shares in the last quarter. Silverback Asset Management LLC increased its equity stake in Akoustis Technologies by 14.1% in the fourth quarter. Silverback Asset Management LLC now owns 1,150,000 shares of the technology company valued at $7,682,000 after purchasing an additional 142,296 shares in the last quarter. Finally, Senvest Management LLC increased its stake in shares of Akoustis Technologies by 8.9% in the fourth quarter. Senvest Management LLC now owns 1,096,716 shares of the technology company valued at $7,326,000 after purchasing an additional 89,853 shares in the last quarter. Institutional investors and hedge funds hold 49.84% of the company’s shares.
AKTS stock traded down $0.14 at midday on Friday, hitting $5.56. 434,743 shares of the company were traded, against an average volume of 466,389. The company has a market capitalization of $303.97 million, a price-earnings ratio of -5.79 and a beta of 1.33. The stock’s 50-day moving average is $6.07 and its 200-day moving average is $6.71. Akoustis Technologies has a 12-month low of $4.58 and a 12-month high of $12.87.
About Akoustis Technologies (Get a rating)
Akoustis Technologies, Inc, through its subsidiary Akoustis, Inc, develops, designs, manufactures and sells radio frequency (RF) filtering products for the mobile wireless device industry in the United States. It operates through two segments, Foundry Manufacturing Services and RF Filters. The Foundry Manufacturing Services segment provides technical review services; and semiconductor wafer fabrication and MEMS foundry services.
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