B. Riley Equities Analysts Lift Earnings Estimates for Akoustis Technologies, Inc. (NASDAQ:AKTS)

Akoustis Technologies, Inc. (NASDAQ:AKTS) – B. Riley boosted their Q3 2024 earnings estimates for shares of Akoustis Technologies in a report released on Monday, April 22nd. B. Riley analyst C. Ellis now expects that the technology company will post earnings per share of ($0.16) for the quarter, up from their prior 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 lowered shares of Akoustis Technologies from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $2.00 to $1.00 in a research note on Thursday, January 4th.

Akoustis Technologies Price Performance

Shares of AKTS opened at $0.60 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.82 and a quick ratio of 1.44. The company has a market capitalization of $59.55 million, a price-to-earnings ratio of -0.62 and a beta of 1.71. The business’s 50-day moving average is $0.61 and its 200-day moving average is $0.65. Akoustis Technologies has a fifty-two week low of $0.45 and a fifty-two week high of $3.57.

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

Hedge Funds Weigh In On Akoustis Technologies

Institutional investors have recently bought and sold shares of the stock. Marathon Capital Management raised its stake in shares of Akoustis Technologies by 108.2% in the 4th quarter. Marathon Capital Management now owns 35,600 shares of the technology company’s stock valued at $30,000 after acquiring an additional 18,500 shares in the last quarter. Griffin Asset Management Inc. acquired a new stake in shares of Akoustis Technologies in the fourth quarter worth $33,000. Providence Capital Advisors LLC boosted its holdings in shares of Akoustis Technologies by 492.6% during the 3rd quarter. Providence Capital Advisors LLC now owns 60,150 shares of the technology company’s stock worth $45,000 after buying an additional 50,000 shares during the period. Crestwood Advisors Group LLC acquired a new position in Akoustis Technologies in the 3rd quarter valued at $84,000. Finally, Perkins Capital Management Inc. raised its holdings in Akoustis Technologies by 10.8% in the 3rd quarter. Perkins Capital Management Inc. now owns 597,500 shares of the technology company’s stock worth $450,000 after acquiring an additional 58,250 shares during the period. 28.84% of the stock is currently owned by institutional investors.

Insider Transactions at Akoustis Technologies

In other news, CFO Kenneth Boller purchased 60,000 shares of the stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average price of $0.50 per share, with a total value of $30,000.00. Following the purchase, the chief financial officer now owns 214,957 shares in the company, valued at approximately $107,478.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Akoustis Technologies news, CEO Jeffrey B. Shealy purchased 1,310,000 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $0.50 per share, for a total transaction of $655,000.00. Following the acquisition, the chief executive officer now owns 2,222,775 shares of the company’s stock, valued at $1,111,387.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth Boller acquired 60,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was acquired at an average price of $0.50 per share, with a total value of $30,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 214,957 shares of the company’s stock, valued at approximately $107,478.50. The disclosure for this purchase can be found here. Insiders bought 1,500,000 shares of company stock valued at $750,000 in the last three months. Corporate insiders own 5.60% of the company’s stock.

Akoustis Technologies Company Profile

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.