Akoustis Technologies Inc (NASDAQ:AKTS) – Oppenheimer lowered their FY2021 earnings per share (EPS) estimates for Akoustis Technologies in a research report issued on Monday, May 13th. Oppenheimer analyst R. Schafer now anticipates that the technology company will post earnings of $0.26 per share for the year, down from their previous forecast of $0.33. Oppenheimer also issued estimates for Akoustis Technologies’ FY2022 earnings at $0.83 EPS.

A number of other research firms have also commented on AKTS. Craig Hallum reaffirmed a “buy” rating and set a $12.00 price objective (up from $10.00) on shares of Akoustis Technologies in a research note on Monday. Zacks Investment Research lowered shares of Akoustis Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, Northland Securities lowered shares of Akoustis Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 5th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $10.14.

AKTS stock opened at $7.75 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 12.78 and a quick ratio of 16.79. Akoustis Technologies has a one year low of $3.40 and a one year high of $9.50.

In other Akoustis Technologies news, Director Steven Denbaars sold 7,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $6.58, for a total transaction of $46,060.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 11,500 shares of company stock valued at $74,550 over the last ninety days. Insiders own 22.60% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Eaton Vance Management acquired a new position in shares of Akoustis Technologies in the 4th quarter valued at about $329,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Akoustis Technologies by 16.7% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 50,400 shares of the technology company’s stock valued at $250,000 after purchasing an additional 7,200 shares during the period. Barclays PLC increased its holdings in shares of Akoustis Technologies by 25,725.0% in the 4th quarter. Barclays PLC now owns 103,300 shares of the technology company’s stock valued at $513,000 after purchasing an additional 102,900 shares during the period. Northern Trust Corp increased its holdings in shares of Akoustis Technologies by 179.9% in the 4th quarter. Northern Trust Corp now owns 57,261 shares of the technology company’s stock valued at $285,000 after purchasing an additional 36,801 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Akoustis Technologies by 123.7% in the 4th quarter. Geode Capital Management LLC now owns 171,869 shares of the technology company’s stock valued at $854,000 after purchasing an additional 95,038 shares during the period. Institutional investors own 21.12% of the company’s stock.

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 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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Earnings History and Estimates for Akoustis Technologies (NASDAQ:AKTS)

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