In the last trading session, 1.88 million shares of the Akoustis Technologies Inc (NASDAQ:AKTS) were traded, and its beta was 1.66. Most recently the company’s share price was $0.08, and it changed around $0.0 or -0.13% from the last close, which brings the market valuation of the company to $11.06M. AKTS currently trades at a discount to its 52-week high of $1.19, offering almost -1387.5% off that amount. The share price’s 52-week low was $0.05, which indicates that the current value has risen by an impressive 37.5% since then. We note from Akoustis Technologies Inc’s average daily trading volume that its 10-day average is 7.45 million shares, with the 3-month average coming to 9.81 million.
Akoustis Technologies Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 0 recommended AKTS as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. Akoustis Technologies Inc is expected to report earnings per share of -0.11 for the current quarter.
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Akoustis Technologies Inc (NASDAQ:AKTS) trade information
Instantly AKTS has showed a red trend with a performance of -0.13% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 0.1000 on recent trading dayincreased the stock’s daily price by 20.0%. The company’s shares are currently down -90.77% year-to-date, but still down -5.06% over the last five days. On the other hand, Akoustis Technologies Inc (NASDAQ:AKTS) is 9.07% up in the 30-day period. We can see from the shorts that 2.8 million shares have been sold at a short interest cover period of 0.22 day(s).
The consensus price target as assigned by Wall Street analysts is $7, which translates to bulls needing to increase their stock price by 98.86% from its current value. Analyst projections state that AKTS is forecast to be at a low of $0.75 and a high of $7.
Akoustis Technologies Inc (AKTS) estimates and forecasts
Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 47.60% in revenue this quarter, and will report an increase of 61.50% in the next quarter. The year-over-year growth rate is expected to be 6.30%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of 7.32M in revenue for the current quarter. 3 analysts expect Akoustis Technologies Inc to make 8.03M in revenue for the current ending quarter. Analysts predict that the company’s current quarter sales will drop, forecast at -12.20%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 0.80%.
AKTS Dividends
Akoustis Technologies Inc’s next quarterly earnings report is expected to be released in November.
Akoustis Technologies Inc (NASDAQ:AKTS)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 4.88% of Akoustis Technologies Inc shares, and 21.22% of them are in the hands of institutional investors. The stock currently has a share float of 22.31%. Akoustis Technologies Inc stock is held by 110.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 3.5335% of the shares, which is about 3.23 million shares worth $0.42 million.
TAYLOR FRIGON CAPITAL MANAGEMENT LLC, with 3.0613% or 2.79 million shares worth $0.37 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
