The stock of Akoustis Technologies Inc. (NASDAQ:AKTS) decreased by -$0.07 on Friday to finish at $1.77, down -3.80 percent. The last five days have seen an average of 506,880 shares of common stock traded. 15 times new highs were reached in the current year, with a fall of -$1.0500. The average number of shares traded over the last 20 days was 562,025, while the average volume over the last 50 days totaled 605,370.
AKTS stock dropped -23.38% since last month. On 08/25/23, the company’s shares reached a one-month low of $1.7250. The stock touched a high of $4.95 on 02/08/23, after rallying from a low of $1.75 in 52 weeks. The price of AKTS stock has declined by -37.23% or -$1.0500 this year, reaching a new high 15 times. Still, the stock price is down -64.28% from the 52-week high.
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Insider Transactions
AKTS stock investors should be aware that Akoustis Technologies Inc. (AKTS) stock had its last reported insider trading activity 10 days ago on Aug 18. On Aug 18, Director Denbaars Steven sold 7,000 shares at $1.83 each. This transaction resulted in the insider making $12,810. On Feb 10, Boller Kenneth sold 800 shares at a price of US$4.37. After the transaction, the insider now owns 110,958 shares. Chief Executive Officer Shealy Jeffrey B. had earlier sold 2,340 shares on Dec 20 for $2.84 a share. The transaction was completed for $6,646.
Valuation Metrics
Beta for the stock is 1.66. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 5.49, the price-to-book (PB) ratio of 1.20.
Financial Health
For the three months ended March 30, Akoustis Technologies Inc.’s quick ratio was 5.10, while its current ratio was 5.80, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending March 30 is 0.44, and the total debt to equity ratio is 0.44. As far as profitability goes, gross margin for the trailing twelve months is -12.00% percent. Based on annual data, it had gross profit of -$4.14 million and revenue of $15.35 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. AKTS’s return on assets (ROA) during the last 12 months has been -41.60%. There was a -39.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -67.10%.
Earnings Surprise
According to Akoustis Technologies Inc.’s quarterly financial report for the quarter that ended March 30. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $7.36 million, while revenues rose by 37.36% to $5.87 million. It was predicted that Akoustis Technologies Inc.’s quarterly earnings would be -$0.2, but it ended up being -$0.19, beating the consensus by -5.30%. EBITDA was -$13.94 million for the quarter. At the end of Akoustis Technologies Inc.’s most recent quarter ended March 30, its liabilities totaled 57.05 million, while its total debt was $45.54 million. Equity owned by shareholders amounts to $71.64 million.
Technical Picture
Here’s a quick look at Akoustis Technologies Inc.’s (AKTS) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 31.88%, suggesting the stock is Neutral, with a 65.58% historical volatility rate.
The stochastic %K and %D were 20.02% and 21.91% respectively, while the average true range (ATR) was 0.1358. Based on the 14-day stochastic reading of 8.26%, the RSI (14) reading is 30.77%. On the 9-day MACD Oscillator, the stock is at 0.0089, and the 14-day reading is at -0.0588.
Analyst Ratings
In its analyst report released on January 24, 2023, B. Riley Securities began covering Akoustis Technologies Inc. (NASDAQ: AKTS). The stock was rated as a Buy by the brokerage firm. Analysts have assigned Akoustis Technologies Inc. (AKTS) an Buy rating. AKTS is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 5 others recommend it as a buy.
What is AKTS’s price target for the next 12 months?
The current consensus forecast for the stock is between $5.00 and $9.25, with a median target price of $6.00. In analyzing these forecasts, the average price target given by analysts for Akoustis Technologies Inc. (AKTS) is $6.45.
