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Boom Or Bust: What Are Akoustis Technologies Inc.’s (NASDAQ:AKTS) Future Prospects?

Akoustis Technologies Inc. (NASDAQ:AKTS)’s traded shares stood at 2.46 million during the last session, with the company’s beta value hitting 1.75. At the close of trading, the stock’s price was $2.92, to imply a decrease of -8.75% or -$0.28 in intraday trading. The AKTS share’s 52-week high remains $7.13, putting it -144.18% down since that peak but still an impressive 21.92% since price per share fell to its 52-week low of $2.28. The company has a valuation of $241.66M, with an average of 0.67 million shares in intraday trading volume over the past 10 days and average of 780.15K shares over the past 3 months.

Analysts have given a consensus recommendation of a Buy for Akoustis Technologies Inc. (AKTS), translating to a mean rating of 1.80. Of 5 analyst(s) looking at the stock, 0 analyst(s) give AKTS a Sell rating. 0 of those analysts rate the stock as Overweight while 0 advise Hold as 5 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -$0.19.

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Akoustis Technologies Inc. (NASDAQ:AKTS) trade information

After registering a -8.75% downside in the last session, Akoustis Technologies Inc. (AKTS) has traded red over the past five days. The stock hit a weekly high of 3.48 this Friday, 03/17/23, dropping -8.75% in its intraday price action. The 5-day price performance for the stock is -8.46%, and -31.13% over 30 days. With these gigs, the year-to-date price performance is 3.55%. Short interest in Akoustis Technologies Inc. (NASDAQ:AKTS) saw shorts transact 4.26 million shares and set a 4.71 days time to cover.

Analysts on Wall Street suggest a consensus price target of $7.65, implying an increase of 61.83% to the stock’s current value. The extremes give us $5.00 and $10.00 for target low and target high price respectively. As such, AKTS has been trading -242.47% off suggested target high and -71.23% 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 outperformed competitors. Akoustis Technologies Inc. (AKTS) shares are -24.74% down over the last 6 months, with its year-to-date growth rate higher than industry average at 14.13% against -18.00%. Revenue is forecast to grow 13.60% this quarter before jumping 30.80% for the next one. The rating firms project that company’s revenue will grow 82.40% compared to the previous financial year.

Revenue forecast for the current quarter as set by 5 analysts is $7.53 million. Meanwhile, for the quarter ending Jun 2023, a total of 5 analyst(s) estimate revenue growth to $9.08 million.Earnings reports from the last fiscal year show that sales brought in $4.61 million and $5.2 million respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 63.40% before jumping 74.50% in the following quarter.

AKTS Dividends

Akoustis Technologies Inc. has its next earnings report out between May 01 and May 05. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Akoustis Technologies Inc. has a forward dividend ratio of 0, with the share yield ticking at 0.00% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 0.00%.

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

Akoustis Technologies Inc. insiders hold 4.21% of total outstanding shares, with institutional holders owning 36.49% of the shares at 38.10% float percentage. In total, 36.49% institutions holds shares in the company, led by SHEALY JEFFREY B. As of Dec 19, 2017, the company held over 3.31 million shares.

The next major institution holding the largest number of shares is TOMPKINS MARK N. with 2.17 million shares.

We also have Blackrock Inc. and Vanguard Group, Inc. (The) as the top two Mutual Funds with the largest holdings of the Akoustis Technologies Inc. (AKTS) shares. Going by data provided on Sep 29, 2022, Blackrock Inc. holds roughly 3.18 million shares. This is just over 5.38% of the total shares, with a market valuation of $9.43 million. Data from the same date shows that the other fund manager holds a little less at 2.62 million, or 4.44% of the shares, all valued at about 7.79 million.

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