Akoustis Technologies, Inc. (NASDAQ:AKTS)’s traded shares stood at 600,647 during the last session, with the company’s beta value hitting 1.59. At the close of trading, the stock’s price was $15.83, to imply an increase of 6.53% or $0.97 in intraday trading. The AKTS share’s 52-week high remains $19.15, putting it -20.97% down since that peak but still an impressive +76.25% since price per share fell to its 52-week low of $3.76. The company has a valuation of $671.08 Million, with an average of 804.28 Million shares in intraday trading volume over the past 10 days and average of 990.33 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Akoustis Technologies, Inc. (AKTS), translating to a mean rating of 1.8. Of 6 analyst(s) looking at the stock, none analyst(s) give AKTS a Sell rating. None of those analysts rate the stock as Overweight while no one advise Hold as 6 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.28.
Akoustis Technologies, Inc. (NASDAQ:AKTS) trade information
After registering a 6.53% upside in the last session, Akoustis Technologies, Inc. (AKTS) has traded red over the past five days. The stock hit a weekly high of $16.53 this Friday, Feb 12, jumping 4.23% in its intraday price action. The 5-day price performance for the stock is -3.83%, and 9.93% over 30 days. With these gigs, the year-to-date price performance is 29.44%. Short interest in Akoustis Technologies, Inc. (NASDAQ:AKTS) saw shorts transact 5.93 Million shares and set a 0.01 days time to cover.
Analysts on Wall Street suggest a consensus price target of $21, implying an increase of 32.66% to the stock’s current value. The extremes give us $19 and $25 for target low and target high price respectively. As such, AKTS has been trading 57.93% off suggested target high and 20.03% from its likely low.
Akoustis Technologies, Inc. (AKTS) estimates and forecasts
Looking at statistics comparing Akoustis Technologies, Inc. share performance against respective industry, we note that the company has underperformed competitors. Akoustis Technologies, Inc. (AKTS) shares are +84.07% up over the last 6 months, with its year-to-date growth rate lower than industry average at 0% against 32.7%. But the analysts are tempering their growth estimates for the 2021 fiscal year. Revenue is forecast to decline -33.3% this quarter before jumping 11.1% for the next one. The rating firms project that company’s revenue will grow 407.8% compared to the previous financial year.
An assessment of the company’s 5-year growth patterns shows that annual earnings fell an estimated -27.6% for the past 5-year period. While 2021 is set for a -0.9% return in earnings, projections for the next 5 years are at 0% annually.
Akoustis Technologies, Inc. (NASDAQ:AKTS)’s Major holders
Akoustis Technologies, Inc. insiders hold 11.55% of total outstanding shares, with institutional holders owning 39.65% of the shares at 44.82% float percentage. In total, 135 institutions holds shares in the company, led by Blackrock Inc. As of Dec 30, 2020, the company held over 2.22 Million shares (or 5.23% of shares), all amounting to roughly $27.1 Million.
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The next major institution holding the largest number of shares is Vanguard Group, Inc. (The) with 1.54 Million shares, or about 3.63% of shares outstanding. As of the market price on Sep 29, 2020, these shares were worth $12.56 Million.