Analysts predict that Akoustis Technologies Inc (NASDAQ:AKTS) will report sales of $550,000.00 for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Akoustis Technologies’ earnings, with the lowest sales estimate coming in at $500,000.00 and the highest estimate coming in at $600,000.00. Akoustis Technologies reported sales of $320,000.00 in the same quarter last year, which indicates a positive year over year growth rate of 71.9%. The company is expected to announce its next quarterly earnings report on Monday, February 3rd.
On average, analysts expect that Akoustis Technologies will report full-year sales of $4.75 million for the current year, with estimates ranging from $3.20 million to $6.10 million. For the next financial year, analysts expect that the firm will report sales of $38.10 million, with estimates ranging from $15.80 million to $69.51 million. Zacks’ sales calculations are an average based on a survey of analysts that cover Akoustis Technologies.
A number of equities research analysts have recently issued reports on AKTS shares. Northland Securities reissued a “hold” rating and issued a $7.40 price target on shares of Akoustis Technologies in a research note on Friday, November 8th. Zacks Investment Research lowered shares of Akoustis Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, November 13th. Oppenheimer set a $10.00 price objective on shares of Akoustis Technologies and gave the stock a “buy” rating in a report on Wednesday, September 18th. Finally, BidaskClub cut shares of Akoustis Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Akoustis Technologies has a consensus rating of “Hold” and an average target price of $9.73.
Several hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new stake in shares of Akoustis Technologies during the 3rd quarter valued at $373,000. Bank of New York Mellon Corp raised its holdings in shares of Akoustis Technologies by 100.8% during the second quarter. Bank of New York Mellon Corp now owns 87,146 shares of the technology company’s stock worth $558,000 after purchasing an additional 43,737 shares during the last quarter. Blackcrane Capital LLC acquired a new stake in shares of Akoustis Technologies in the second quarter valued at about $4,440,000. BlackRock Inc. raised its stake in Akoustis Technologies by 979.0% during the second quarter. BlackRock Inc. now owns 1,638,142 shares of the technology company’s stock worth $10,484,000 after purchasing an additional 1,486,322 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Akoustis Technologies by 15.1% in the 2nd quarter. Vanguard Group Inc. now owns 1,241,285 shares of the technology company’s stock valued at $7,944,000 after acquiring an additional 163,067 shares during the period. Hedge funds and other institutional investors own 31.31% of the company’s stock.
Shares of Akoustis Technologies stock traded up $0.03 during trading on Wednesday, hitting $8.01. 262,186 shares of the company’s stock were exchanged, compared to its average volume of 204,945. The company has a current ratio of 9.01, a quick ratio of 8.97 and a debt-to-equity ratio of 1.03. The business has a 50-day simple moving average of $7.76 and a 200-day simple moving average of $7.05. Akoustis Technologies has a 52-week low of $4.60 and a 52-week high of $9.00.
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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