Will current price volatility hamper Akoustis Technologies Inc. (AKTS) future potential? – Marketing Sentinel

Will current price volatility hamper Akoustis Technologies Inc. (AKTS) future potential?

Akoustis Technologies Inc. (NASDAQ:AKTS) has a beta value of 1.38 and has seen 1,330,494 shares traded in the last trading session. The company, currently valued at $471.02 Million, closed the last trade at $9.97 per share which meant it lost -$1.26 on the day or -11.22% during that session. The AKTS stock price is -92.08% off its 52-week high price of $19.15 and 52.06% above the 52-week low of $4.78. If we look at the company’s 10-day average daily trading volume, we find that it stood at 512.98 Million shares traded. The 3-month trading volume is 767.7 Million shares.

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The consensus among analysts is that Akoustis Technologies Inc. (AKTS) is a Buy stock at the moment, with a recommendation rating of 1.8. None of the analysts rate the stock as a Sell, while none rate it as Overweight. None out of 5 have rated it as a Hold, with 5 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is -$0.26.

Akoustis Technologies Inc. (NASDAQ:AKTS) trade information

Despite being -11.22% in the red in last session, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Apr 29 when the AKTS stock price touched $12.87- or saw a rise of 22.53%. Year-to-date, Akoustis Technologies Inc. shares have moved -18.48%, while the 5-day performance has seen it change -18.74%. Over the past 30 days, the shares of Akoustis Technologies Inc. (NASDAQ:AKTS) have changed -28.79%. Short interest in the company has seen 4.01 Million shares shorted with days to cover at 0.01.

Wall Street analysts have a consensus price target for the stock at $17.4, which means that the shares’ value could jump 74.52% from current levels. The projected low price target is $16 while the price target rests at a high of $19. In that case, then, we find that the current price level is +90.57% off the targeted high while a plunge would see the stock lose 60.48% from current levels.

Akoustis Technologies Inc. (AKTS) estimates and forecasts

Figures show that Akoustis Technologies Inc. shares have underperformed across the wider relevant industry. The company’s shares have gained +16.74% over the past 6 months, with this year growth rate of 1.16%, compared to 26.6% for the industry. Other than that, the company has, however Increased its growth outlook for the 2021 fiscal year revenue. Growth estimates for the current quarter are 3.7% and 16.1% for the next quarter. Revenue growth from the last financial year stood is estimated to be +330.2%.

5 analysts offering their estimates for the company have set an average revenue estimate of $3.4 Million for the current quarter. 5 have an estimated revenue figure of $8.26 Million for the next quarter concluding in September 01, 2021. Year-ago sales stood $366Million for this quarter, and analysts expect sales will grow by 829% for the current quarter.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -27.6% over the past 5 years. Earnings growth for 2021 is a modest -0.9%.

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Akoustis Technologies Inc. (NASDAQ:AKTS)’s Major holders

Insiders own 7.9% of the company shares, while shares held by institutions stand at 39.04% with a share float percentage of 42.38%. Investors are also buoyed by the number of investors in a company, with Akoustis Technologies Inc. having a total of 172 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 2.22 Million shares worth more than $27.1 Million. As of December 30, 2020, Blackrock Inc. held 5.23% of shares outstanding.

The other major institutional holder is Vanguard Group Inc. (The), with the holding of over 1.62 Million shares as of December 30, 2020. The firm’s total holdings are worth over $19.86 Million and represent 3.83% of shares outstanding.

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Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. As of December 30, 2020, the former fund manager holds about 2.22% shares in the company for having 942033 shares of worth $11.52 Million while later fund manager owns 869.47 Thousand shares of worth $11.6 Million as of March 30, 2021, which makes it owner of about 2.05% of company’s outstanding stock.

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