Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Rating) – Analysts at Oppenheimer boosted their Q1 2023 earnings per share estimates for shares of Akoustis Technologies in a research report issued to clients and investors on Tuesday, September 13th. Oppenheimer analyst R. Schafer now forecasts that the technology company will post earnings per share of ($0.11) for the quarter, up from their previous estimate of ($0.12). The consensus estimate for Akoustis Technologies' current full-year earnings is ($0.55) per share. Oppenheimer also issued estimates for Akoustis Technologies' Q2 2023 earnings at ($0.10) EPS, Q3 2023 earnings at ($0.08) EPS, Q4 2023 earnings at ($0.04) EPS, FY2023 earnings at ($0.33) EPS and FY2024 earnings at ($0.03) EPS.

Separately, Piper Sandler dropped their target price on shares of Akoustis Technologies from $7.00 to $5.00 and set an "overweight" rating on the stock in a report on Tuesday.

Akoustis Technologies Stock Up 1.6 %

Insiders Place Their Bets

In other news, Director Steven Denbaars sold 7,000 shares of the business's stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $3.90, for a total value of $27,300.00. Following the sale, the director now directly owns 243,545 shares in the company, valued at $949,825.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 26,193 shares of company stock worth $111,688. Corporate insiders own 5.70% of the company's stock.

Institutional Trading of Akoustis Technologies

A number of institutional investors have recently made changes to their positions in AKTS. Pinnacle Wealth Planning Services Inc. acquired a new stake in Akoustis Technologies in the 2nd quarter valued at $38,000. BNP Paribas Arbitrage SA raised its holdings in Akoustis Technologies by 170.0% during the second quarter. BNP Paribas Arbitrage SA now owns 11,382 shares of the technology company's stock worth $42,000 after acquiring an additional 7,167 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Akoustis Technologies by 1,047.6% during the second quarter. Nisa Investment Advisors LLC now owns 12,050 shares of the technology company's stock valued at $45,000 after purchasing an additional 11,000 shares during the last quarter. AE Wealth Management LLC bought a new position in Akoustis Technologies in the second quarter valued at approximately $45,000. Finally, Amalgamated Bank acquired a new position in shares of Akoustis Technologies during the 1st quarter worth approximately $52,000. Institutional investors own 52.22% of the company's stock.

About Akoustis Technologies

(Get Rating)

Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, develops, designs, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industry in the United States. It operates through two segments, Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment provides engineering review services; and semiconductor wafer-manufacturing and microelectromechanical systems foundry services.

Further Reading

• Get a free copy of the StockNews.com research report on Akoustis Technologies (AKTS)
• Is There a Cure for What is Ailing Teladoc Stock?
• No One Told These 3 Stocks It's a Down Week
• Why Medical Products Maker Repligen May Be A Potential Buy
• At 10%, Is Arbor Realty Trust Dividend Worth It?
• Investors Should Tune Into RF Industries

Receive News & Ratings for Akoustis Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Akoustis Technologies and related companies with MarketBeat.com's FREE daily email newsletter.