Q3 2024 EPS Estimates for Akoustis Technologies, Inc. (NASDAQ:AKTS) Increased by B. Riley

Akoustis Technologies, Inc. (NASDAQ:AKTS) – Equities research analysts at B. Riley upped their Q3 2024 earnings per share (EPS) estimates for Akoustis Technologies in a research note issued on Monday, April 22nd. B. Riley analyst C. Ellis now expects that the technology company will earn ($0.16) per share for the quarter, up from their previous estimate 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 lowered their price target for the stock from $2.00 to $1.00 in a research report on Thursday, January 4th.

Akoustis Technologies Trading Up 1.9 %

Shares of NASDAQ:AKTS opened at $0.57 on Wednesday. Akoustis Technologies has a 12-month low of $0.45 and a 12-month high of $3.57. The business’s fifty day simple moving average is $0.60 and its 200-day simple moving average is $0.64. The company has a current ratio of 1.82, a quick ratio of 1.44 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $55.79 million, a PE ratio of -0.58 and a beta of 1.71.

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

Insiders Place Their Bets

In other news, CEO Jeffrey B. Shealy acquired 1,310,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was bought at an average cost of $0.50 per share, for a total transaction of $655,000.00. Following the purchase, the chief executive officer now owns 2,222,775 shares in the company, valued at $1,111,387.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Jeffrey B. Shealy purchased 1,310,000 shares of the company’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 $655,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,222,775 shares of the company’s stock, valued at $1,111,387.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Kenneth Boller purchased 60,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $0.50 per share, with a total value of $30,000.00. Following the completion of the transaction, the chief financial officer now directly 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 three months, insiders bought 1,500,000 shares of company stock worth $750,000. Corporate insiders own 5.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AKTS. Taylor Frigon Capital Management LLC lifted its holdings in Akoustis Technologies by 303.4% in the first quarter. Taylor Frigon Capital Management LLC now owns 3,358,195 shares of the technology company’s stock valued at $1,985,000 after acquiring an additional 2,525,823 shares during the last quarter. Senvest Management LLC lifted its stake 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 purchasing an additional 476,314 shares in the last quarter. West Tower Group LLC lifted its stake in Akoustis Technologies by 17.9% during the fourth quarter. West Tower Group LLC now owns 882,407 shares of the technology company’s stock worth $736,000 after purchasing an additional 134,011 shares in the last quarter. Crestwood Advisors Group LLC acquired a new position in Akoustis Technologies during the third quarter worth $84,000. Finally, Perkins Capital Management Inc. lifted its stake in Akoustis Technologies by 10.8% during the third quarter. Perkins Capital Management Inc. now owns 597,500 shares of the technology company’s stock worth $450,000 after purchasing an additional 58,250 shares in the last quarter. 28.84% of the stock is currently owned by institutional investors and hedge funds.

About Akoustis Technologies

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.