Analysts forecast that Akoustis Technologies Inc (NASDAQ:AKTS) will report sales of $300,000.00 for the current quarter, according to Zacks. Four analysts have provided estimates for Akoustis Technologies’ earnings. Akoustis Technologies also posted sales of $300,000.00 during the same quarter last year. The business is scheduled to issue its next earnings results on Tuesday, November 13th.
According to Zacks, analysts expect that Akoustis Technologies will report full-year sales of $2.64 million for the current fiscal year, with estimates ranging from $2.40 million to $2.80 million. For the next financial year, analysts expect that the business will report sales of $19.65 million, with estimates ranging from $11.00 million to $27.00 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Akoustis Technologies.
AKTS has been the topic of a number of research reports. Oppenheimer initiated coverage on Akoustis Technologies in a report on Thursday, August 30th. They issued an “outperform” rating and a $10.00 price objective on the stock. Piper Jaffray Companies initiated coverage on Akoustis Technologies in a report on Wednesday, October 10th. They issued a “buy” rating and a $10.00 price objective on the stock. Six equities research analysts have rated the stock with a buy rating, Akoustis Technologies presently has an average rating of “Buy” and an average target price of $12.08.
In other news, VP David Aichele sold 10,175 shares of Akoustis Technologies stock in a transaction on Friday, October 5th. The stock was sold at an average price of $7.15, for a total transaction of $72,751.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey B. Shealy sold 7,200 shares of Akoustis Technologies stock in a transaction on Monday, August 13th. The stock was sold at an average price of $7.67, for a total value of $55,224.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,193 shares of company stock worth $379,560. Insiders own 22.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Akoustis Technologies during the 3rd quarter worth $340,000. Salem Investment Counselors Inc. raised its holdings in shares of Akoustis Technologies by 3,061.7% during the 2nd quarter. Salem Investment Counselors Inc. now owns 142,275 shares of the technology company’s stock worth $1,034,000 after acquiring an additional 137,775 shares during the period. Millennium Management LLC raised its holdings in Akoustis Technologies by 145.4% in the 2nd quarter. Millennium Management LLC now owns 301,087 shares of the technology company’s stock valued at $2,189,000 after buying an additional 178,419 shares during the period. Paloma Partners Management Co purchased a new stake in Akoustis Technologies in the 2nd quarter valued at about $424,000. Finally, MYDA Advisors LLC purchased a new stake in Akoustis Technologies in the 2nd quarter valued at about $611,000. Institutional investors and hedge funds own 14.45% of the company’s stock.
Akoustis Technologies Company Profile
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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