During the last session, Akoustis Technologies Inc (NASDAQ:AKTS)’s traded shares were 209.52 million, with the beta value of the company hitting 1.78. At the end of the trading day, the stock’s price was $0.10, reflecting an intraday gain of 19.86% or $0.01. The 52-week high for the AKTS share is $1.19, that puts it down -1090.0 from that peak though still a striking 60.0% gain since the share price plummeted to a 52-week low of $0.04. The company’s market capitalization is $16.13M, and the average intraday trading volume over the past 10 days was 49.62 million shares, and the average trade volume was 16.47 million shares over the past three months.
Akoustis Technologies Inc (AKTS) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.00. AKTS has a Sell rating from 1 analyst(s) out of 8 analysts who have looked at this stock. 3 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.08.
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Akoustis Technologies Inc (NASDAQ:AKTS) trade information
Akoustis Technologies Inc (AKTS) registered a 19.86% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 19.86% in intraday trading to $0.10, hitting a weekly high. The stock’s 5-day price performance is 95.14%, and it has moved by 53.98% in 30 days. Based on these gigs, the overall price performance for the year is -82.79%. The short interest in Akoustis Technologies Inc (NASDAQ:AKTS) is 5.33 million shares and it means that shorts have 0.54 day(s) to cover.
The consensus price target of analysts on Wall Street is $7, which implies an increase of 98.57% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $0.75 and $7 respectively. As a result, AKTS is trading at a discount of -6900.0% off the target high and -650.0% off the low.
Akoustis Technologies Inc (AKTS) estimates and forecasts
Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 60.53% this quarter and then jump 46.43% in the quarter after that. In the rating firms’ projections, revenue will increase 41.20% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 9.15M as predicted by 2 analyst(s). Meanwhile, a consensus of 2 analyst(s) estimates revenue growth to 10.4M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 7.02M and 7.51M respectively. In this case, analysts expect current quarter sales to grow by 30.40% and then jump by 38.48% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -12.14%.
AKTS Dividends
Akoustis Technologies Inc is due to release its next quarterly earnings in December. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Akoustis Technologies Inc (NASDAQ:AKTS)’s Major holders
Akoustis Technologies Inc insiders own 3.32% of total outstanding shares while institutional holders control 14.03%, with the float percentage being 14.51%. VANGUARD GROUP INC is the largest shareholder of the company, while 98.0 institutions own stock in it. As of 2024-06-30, the company held over 3.23 million shares (or 3.5335% of all shares), a total value of $0.42 million in shares.
The next largest institutional holding, with 2.79 million shares, is of TAYLOR FRIGON CAPITAL MANAGEMENT LLC’s that is approximately 3.0613% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $0.37 million.
