Research Analysts Offer Predictions for Akoustis Technologies, Inc.’s Q3 2024 Earnings (NASDAQ:AKTS)

Akoustis Technologies, Inc. (NASDAQ:AKTS) – Equities researchers at B. Riley boosted their Q3 2024 earnings estimates for shares of Akoustis Technologies in a note issued to investors on Monday, April 22nd. B. Riley analyst C. Ellis now expects that the technology company will post earnings per share of ($0.16) for the quarter, up from their previous forecast of ($0.17). The consensus estimate for Akoustis Technologies’ current full-year earnings is ($0.68) per share. B. Riley also issued estimates for Akoustis Technologies’ Q4 2024 earnings at ($0.14) EPS, FY2024 earnings at ($0.76) EPS, Q2 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.06) EPS and FY2025 earnings at ($0.37) EPS.

Separately, Piper Sandler cut Akoustis Technologies from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $2.00 to $1.00 in a report on Thursday, January 4th.

Akoustis Technologies Stock Up 10.5 %

NASDAQ:AKTS opened at $0.60 on Wednesday. Akoustis Technologies has a 1 year low of $0.45 and a 1 year high of $3.57. The stock has a 50-day moving average price of $0.61 and a two-hundred day moving average price of $0.65. The stock has a market cap of $59.55 million, a price-to-earnings ratio of -0.62 and a beta of 1.71. The company has a current ratio of 1.82, a quick ratio of 1.44 and a debt-to-equity ratio of 0.80.

Akoustis Technologies (NASDAQ:AKTS) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.01). Akoustis Technologies had a negative return on equity of 80.80% and a negative net margin of 232.77%. The firm had revenue of $7.02 million for the quarter, compared to the consensus estimate of $6.99 million. During the same period in the prior year, the business earned ($0.19) earnings per share.

Insider Activity at Akoustis Technologies

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

Institutional Trading of Akoustis Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of AKTS. Perkins Capital Management Inc. grew its stake in Akoustis Technologies by 10.8% in the third quarter. Perkins Capital Management Inc. now owns 597,500 shares of the technology company’s stock valued at $450,000 after purchasing an additional 58,250 shares in the last quarter. Providence Capital Advisors LLC grew its stake in shares of Akoustis Technologies by 492.6% in the third quarter. Providence Capital Advisors LLC now owns 60,150 shares of the technology company’s stock valued at $45,000 after buying an additional 50,000 shares in the last quarter. Senvest Management LLC increased its holdings in Akoustis Technologies by 14.3% during the third quarter. Senvest Management LLC now owns 3,802,592 shares of the technology company’s stock worth $2,863,000 after buying an additional 476,314 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in Akoustis Technologies during the third quarter worth $84,000. Finally, Griffin Asset Management Inc. bought a new stake in Akoustis Technologies during the fourth quarter worth $33,000. Institutional investors and hedge funds own 28.84% of the company’s stock.

Akoustis Technologies Company Profile

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.