-$0.22 EPS expected for Akoustis Technologies, Inc. (NASDAQ:AKTS) this quarter

Stock analysts predict that Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Rating) will post earnings per share of ($0.22) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates on the profits of Akoustis Technologies. The highest EPS estimate is ($0.19) and the lowest is ($0.24). Akoustis Technologies posted earnings per share of ($0.15) in the same quarter last year, which would indicate a negative year-over-year growth rate of 46.7%. The company is due to announce its next quarterly earnings report on Monday, January 1.

On average, analysts expect Akoustis Technologies to report year-to-date earnings of ($0.90) per share for the current year, with EPS estimates ranging from ($0.91) to ($0.90) per share. $.88). For the next fiscal year, analysts expect the company to report earnings of ($0.55) per share, with EPS estimates ranging from ($0.80) to ($0.27). Zacks earnings per share calculations are an average based on a survey of research companies that track Akoustis Technologies.

Akoustis Technologies (NASDAQ:AKTS – Get Rating) last reported results on Monday, January 31. The technology company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.04). Akoustis Technologies posted a negative net margin of 473.95% and a negative return on equity of 33.74%. The company posted revenue of $4.55 million in the quarter, versus analyst estimates of $3.70 million. During the same quarter of the previous year, the firm had posted ($0.22) earnings per share.

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Separately, Zacks Investment Research downgraded shares of Akoustis Technologies from a “buy” rating to a “hold” rating in a Thursday, February 3, report.

The NASDAQ AKTS fell $0.32 on Friday, hitting $6.66. 641,506 shares of the company were traded, against an average volume of 459,100. The company has a market capitalization of $364.10 million, a PE ratio of -6.94 and a beta of 1.24. Akoustis Technologies has a 12-month low of $4.58 and a 12-month high of $14.38. The stock has a fifty-day moving average of $5.85 and a 200-day moving average of $7.11.

Separately, director James Michael Mcguire purchased 17,800 shares of the company in a transaction that took place on Monday, February 7. The shares were purchased at an average cost of $5.62 per share, with a total value of $100,036.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, director Steven Denbaars sold 7,000 shares of Akoustis Technologies in a trade on Tuesday, January 11. The stock was sold at an average price of $5.91, for a total transaction of $41,370.00. The disclosure of this sale can be found here. Insiders hold 5.70% of the shares of the company.

Several hedge funds and other institutional investors have recently changed their stock holdings. PNC Financial Services Group Inc. increased its stake in shares of Akoustis Technologies by 14.7% in the third quarter. PNC Financial Services Group Inc. now owns 11,942 shares of the technology company worth $115,000 after buying 1,534 additional shares during the period. Royal Bank of Canada increased its stake in shares of Akoustis Technologies by 7.1% in the third quarter. Royal Bank of Canada now owns 30,940 shares of the tech company worth $300,000 after buying 2,058 more shares during the period. Cambridge Investment Research Advisors Inc. increased its position in Akoustis Technologies by 15.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 18,286 shares of the technology company valued at $177,000 after buying 2,416 additional shares during the period. Oppenheimer & Co. Inc. increased its position in Akoustis Technologies by 2.1% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 123,250 shares of the technology company valued at $1,196,000 after purchasing an additional 2,500 shares during the period. Finally, Advisor Group Holdings Inc. increased its position in Akoustis Technologies by 21.6% during the 4th quarter. Advisor Group Holdings Inc. now owns 15,710 shares of the technology company valued at $106,000 after buying 2,790 additional shares during the period. 49.84% of the shares are currently held by institutional investors.

About Akoustis Technologies (Get an evaluation)

Akoustis Technologies, Inc is a filter solutions company, which is engaged in the development, design and manufacture of radio frequency (RF) filter products. It operates through Foundry Manufacturing Services and RF Filters segments. The Foundry Manufacturing Services segment includes technical review services and STC-MEMS foundry services.

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Earnings history and estimates for Akoustis Technologies (NASDAQ:AKTS)

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