Senvest Management LLC has recently announced that it has increased stake in Akoustis Technologies Inc (NASDAQ:AKTS) by 14.32%. After grabbing 3.8 million shares, the institutional investor is now in possession of 0.48 million shares of the Technology Company. The new investment brought the stake of investor firm to 5.26% having worth around $1.93 million. Moreover, The Vanguard Group, Inc. increased its share by 11410.0 to have a control over 3.6 million shares. And Silverback Asset Management LLC raised its holdings to 1.42 million shares by acquiring 3.46 million shares or 4.78% of the stake.
Akoustis Technologies Inc (AKTS) concluded trading on 11/22/23 at a closing price of $0.62, with 0.47 million shares of worth about $0.29 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -78.56% during that period and on Wednesday the price saw a gain of about 1.76%. Currently the company’s common shares owned by public are about 72.15M shares, out of which, 68.55M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 5 analysts are covering the AKTS stock and their offered price forecasts bring an average price target of $1.75. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $3.00 and could fall to a lowest price of $1.00. The stock’s current price level is 64.57% above of average price target set by the analysts, while a rise to estimated low would result in gain of 38.0% for the stock. However, touching the estimated high of $3.00 would mean a gain of 79.33% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 18 times over the past 12 months. They bought 531,608 shares in 7 of the transactions. In 11 selling transactions, insiders dumped 34,020 shares.
Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Needham Small Cap Growth Fund are the top 3 mutual funds which are holding stakes in Akoustis Technologies Inc Vanguard Total Stock Market ETF is currently holding 2.12 million shares of worth totaling $1.08 million. The company recently came selling -0.15 million shares which brought its stake up to 2.94% of the company’s outstanding shares. iShares Russell 2000 ETF sold 16402.0 shares, after which its hold over company’s outstanding shares shrunk to 2.26%, leaving 1.63 million shares with the mutual fund that have a worth of about $0.83 million. Needham Small Cap Growth Fund, after selling 1.39 million shares, have now control over 1.92% of the stake in the company. It holds -0.34 million shares of worth $0.7 million.
Akoustis Technologies Inc (NASDAQ: AKTS) started trading at $0.60, below -$0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 0.6700, or with a gain of 1.76%. Stock saw a price change of -18.32% in past 5 days and over the past one month there was a price change of 5.79%. Year-to-date (YTD), AKTS shares are showing a performance of -78.11% which decreased to -82.71% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $0.46 but also hit the highest price of $4.95 during that period. The average intraday trading volume for Akoustis Technologies Inc shares is 946.68K. The stock is currently trading 6.51% above its 20-day simple moving average (SMA20), while that difference is down -11.67% for SMA50 and it goes to -73.42% lower than SMA200.
Senvest Management LLC acquired 3.8 million shares of Akoustis Technologies Inc having value of about $1.93 million. Data submitted at the U.S SEC by Senvest Management LLC revealed that the firm now holds 0.48 million shares in the company valued at close to $295314.68, or have control over 14.32% stake in the company. Akoustis Technologies Inc (NASDAQ: AKTS) currently have 72.15M outstanding shares and institutions hold larger chunk of about 47.19% of that. Holding of mutual funds in the company is about 31.29% while other institutional holders and individual stake holders have control over 9.52% and 16.01% of the stake respectively.
The stock has a current market capitalization of $44.75M and its 3Y-monthly beta is at 1.71. It has posted earnings per share of -$0.95 in the same period. It has Quick Ratio of 2.04 while making debt-to-equity ratio of 0.65. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for AKTS, volatility over the week remained 15.29% while standing at 17.45% over the month.
Analysts are in expectations that Akoustis Technologies Inc (AKTS) stock would likely to be making an EPS of -$0.18 in the current quarter, while forecast for next quarter EPS is -$0.15 and it is -$0.42 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.2 which is -$0.16 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.19 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 16.59% while it is estimated to increase by 42.78% in next year.
Analysts at 5 brokerage firms have issued recommendations for the Akoustis Technologies Inc (AKTS)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.40. Out of those 5 Wall Street analysts, 4 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by B. Riley Securities on September 06, 2023 offering a Neutral rating for the stock and assigned a target price range of between $9.25 and $1.75 to it.
