Akoustis Technologies, Inc. (NASDAQ:AKTS) is trending higher in the market today as the company shares are trading 2.37% or 0.17 points down from last closing price of $7.18, reaching $7.01 at last check. Any clue why there is so much of action in the AKTS stock? The share price has dropped in 3 of the last 5 days and is up 15.25% over the past week. It will be exciting to see whether the stock manages to continue decreasing or take a minor break for the next few days. The move came on solid volume too with far more shares changing hands than in a normal session. Trading activity as of this writing strengthened by 20,559 shares, and in total 245659 shares valued at $1.722 million were seen changing hands compared with 225100 shares valued at $1.616 million recorded at the previous session. You should take into consideration that a greater volume on lower prices causes the situation where nobody wants to continue with their long position and wants to exit from the AKTS stock.
Akoustis Technologies, Inc. (AKTS) shares have notched a 3-month gain of about 15.25%, but has still advanced 44.47% year to date. By comparison, the stock added 12.19% over the past 12 months, while it slipped -14.01% over the 1 month. The company’s market cap is around $205.78M, with its short interest ratio standing at 11.04%.
In the current trading session for AKTS, the stock witnessed two major price actions, it rose to a high of $7.14 and was down as much as $6.83 at one point. The high recorded is very low when compared to their 52-week high which is $3.4. The 52-week high is now at -27.26 distance from current price. Their recent low of $9.5 represents a 103.24% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for AKTS is $10.05, this is above the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
The stock of Akoustis Technologies, Inc. earned $-1.19 per share in the trailing 12 months and has a P/E ratio of -5.89. You can compare it with that of similar companies in its industry to get a sense of whether the stock you’re looking to purchase is overvalued or undervalued. Its current price to earnings ratio is lower than the ones recorded by the industry which is 165.95 and lower compared to the sector’s average of 980.64. When the P/E ratio is low let’s say below 1.0, then the stock price is considered a good value. AKTS also has P/S multiple of 182.64. This is greater versus the 12 month P/S ratios of other companies in the same indutry. The peer average price to sales ratio is 8.21x.
The company recorded an interesting insider sale transaction by the VP on May 17, 2019. A Securities and Exchanges Commission filings show that David Aichele sold a total of 2,500 AKTS shares that day for a sum of around $19,975. Akoustis Technologies, Inc. (AKTS) insiders have acquired no shares in the stock within the past three months. In total, individual insiders traded 9,500 shares in the business, which makes up 3.046% of 311,835 shares that were traded over a year. In the past 12 months, insiders have purchased 235,730 shares while the seller parted with 76,105 shares.
AKTS‘s last price was up 8.19% as compared to the average trading price of 50 days recorded at $6.48 while enlarging the period to 200 trading days, the average closing price was $7.05. At present, there are 28.66 million in the total number of common shares owned by the public and among those 22.95 million shares have been available to trade. The percentage of shares being held by the company management was 12.9% while institutions stake was 31.8%. The company has generated negative returns on equity over the last 12 months (-135.5%). It managed to keep its gross profit margin at 4.8% over the past 12 months.
When assessing the full upside of the AKTS stock, there is another set of technicals that should be looked into and considered. Its -1.85% decline from moving average of $7.14 has brought about a negative sentiment when calculated over the last 20 days. The market has allocated a beta of 0.95 to the stock. With the beta been less than one, this implies that the company shares are theoretically less volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of Akoustis Technologies, Inc. — 6 analysts rate the stock as a buy with another 0 rating it strong buy. There are 1 analysts who maintain a hold rating for the stock, with 0 giving it a sell rating. Analysts arrived at a 12-month price target of $10.5 on shares of Akoustis Technologies, Inc. (NASDAQ:AKTS), which corresponds to 50.43% upside potential than its current market price of $7.01 and implies potential despite the recent drop in the price. However, their current target price has fallen from $10.5 a month ago and is up handily from the consensus target of $10.1667 a quarter ago.
Let’s briefly check the hedge fund interest towards AKTS stock. Marshall Wace North America L.P. added position in the company after it grew 50% or 11,153 shares of its common stock. The hedge fund now owns 16,730 shares worth $117,277, SEC documents show. Financial Advocates Investment Management cut assets in the stock as 220791.1 shares have been sold, reducing its stake by -1.4% to 217,700 shares which are currently valued at $1,526,077. In addition, BlueCrest Capital Management Ltd recently reported that it now owns 25,660 shares making a total of $179,877 based on the recent price. This refelects a change of 50% in their ownership.