Akoustis Technologies (AKTS) Scheduled to Post Earnings on Tuesday

Akoustis Technologies (NASDAQ:AKTSGet Free Report) is scheduled to be releasing its earnings data before the market opens on Tuesday, February 13th. Analysts expect Akoustis Technologies to post earnings of ($0.18) per share for the quarter. Akoustis Technologies has set its Q2 2024 guidance at EPS.Persons interested in participating in the company’s earnings conference call can do so using this link.

Akoustis Technologies (NASDAQ:AKTSGet Free Report) last posted its earnings results on Monday, November 13th. The technology company reported ($0.27) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.09). The business had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $7.09 million. Akoustis Technologies had a negative net margin of 226.21% and a negative return on equity of 71.24%. On average, analysts expect Akoustis Technologies to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Akoustis Technologies Stock Performance

Shares of AKTS opened at $0.68 on Friday. The company has a 50-day moving average of $0.69 and a two-hundred day moving average of $0.97. The stock has a market cap of $65.28 million, a P/E ratio of -0.72 and a beta of 1.69. Akoustis Technologies has a 12-month low of $0.45 and a 12-month high of $4.50. The company has a current ratio of 2.43, a quick ratio of 2.04 and a debt-to-equity ratio of 0.63.

Insider Activity at Akoustis Technologies

In other news, CFO Kenneth Boller bought 60,000 shares of Akoustis Technologies stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $0.50 per share, for a total transaction of $30,000.00. Following the acquisition, the chief financial officer now owns 214,957 shares in the company, valued at $107,478.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Akoustis Technologies news, CEO Jeffrey B. Shealy bought 1,310,000 shares of Akoustis Technologies stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average cost of $0.50 per share, for a total transaction of $655,000.00. Following the completion of the transaction, the chief executive officer now owns 2,222,775 shares of the company’s stock, valued at approximately $1,111,387.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kenneth Boller acquired 60,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were bought at an average cost of $0.50 per share, with a total value of $30,000.00. Following the purchase, the chief financial officer now owns 214,957 shares in the company, valued at $107,478.50. The disclosure for this purchase can be found here. In the last quarter, insiders bought 1,500,000 shares of company stock valued at $750,000 and sold 7,000 shares valued at $4,481. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Akoustis Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC acquired a new stake in shares of Akoustis Technologies during the 1st quarter worth $69,000. Alliancebernstein L.P. increased its position in Akoustis Technologies by 24.3% during the 4th quarter. Alliancebernstein L.P. now owns 22,500 shares of the technology company’s stock worth $63,000 after purchasing an additional 4,400 shares in the last quarter. State Board of Administration of Florida Retirement System purchased a new position in Akoustis Technologies in the second quarter valued at approximately $62,000. BNP Paribas Arbitrage SNC lifted its position in Akoustis Technologies by 287.5% during the first quarter. BNP Paribas Arbitrage SNC now owns 14,524 shares of the technology company’s stock valued at $45,000 after buying an additional 10,776 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its stake in Akoustis Technologies by 170.0% during the second quarter. BNP Paribas Arbitrage SA now owns 11,382 shares of the technology company’s stock worth $42,000 after buying an additional 7,167 shares during the period. Institutional investors and hedge funds own 52.07% of the company’s stock.

Analysts Set New Price Targets

Separately, Piper Sandler lowered Akoustis Technologies from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $2.00 to $1.00 in a research note on Thursday, January 4th.

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About Akoustis Technologies

(Get Free Report)

Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, designs, develops, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industry in the United States, Asia, Europe, and internationally. It operates through Foundry Fabrication Services and RF Filters segments.

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Earnings History for Akoustis Technologies (NASDAQ:AKTS)

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