Akoustis Technologies (NASDAQ:AKTS) announced its quarterly earnings data on Sunday. The technology company reported ($0.22) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.01), Briefing.com reports. The firm had revenue of $2.52 million during the quarter, compared to analyst estimates of $2.25 million. Akoustis Technologies had a negative net margin of 2,077.27% and a negative return on equity of 72.62%. The business’s revenue for the quarter was up 594.2% compared to the same quarter last year.
Shares of Akoustis Technologies stock traded down $0.48 during midday trading on Tuesday, hitting $9.49. The company’s stock had a trading volume of 15,980 shares, compared to its average volume of 823,184. Akoustis Technologies has a 1-year low of $7.00 and a 1-year high of $19.15. The company has a quick ratio of 9.34, a current ratio of 9.40 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $402.31 million, a P/E ratio of -8.59 and a beta of 1.63. The stock has a 50-day simple moving average of $12.62 and a 200-day simple moving average of $11.93.
A number of equities research analysts have weighed in on AKTS shares. Lake Street Capital reduced their price objective on shares of Akoustis Technologies from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday. Roth Capital decreased their price target on shares of Akoustis Technologies from $25.00 to $16.00 and set a “buy” rating on the stock in a research report on Monday. Loop Capital increased their price objective on Akoustis Technologies from $11.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, January 5th. Oppenheimer lifted their target price on Akoustis Technologies from $15.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, January 28th. Finally, Zacks Investment Research raised Akoustis Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, April 6th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Akoustis Technologies currently has a consensus rating of “Buy” and an average price target of $16.00.
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 industry in the United States. It operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and semiconductor wafer-manufacturing and microelectromechanical systems foundry services.
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