AKTS Stock Summary and Trading Ideas (Akoustis Technologies | NASDAQ:AKTS)

Akoustis Technologies Inc is an emerging commercial product company focused on developing, designing, and manufacturing innovative RF filter solutions for the wireless industry, including for products such as smartphones and tablets, network infrastructure equipment, WiFi Customer Premise Equipment and defense applications. The company has developed a proprietary microelectromechanical system based bulk acoustic wave technology and a unique manufacturing process flow, called XBAW, for filters produced for use in RFFE modules. The company derives revenue from the sale of filter products under individual customer purchase orders, some of which have underlying master sales agreements that specify terms governing the product sales.

Akoustis Technologies trades on the NASDAQ stock market under the symbol AKTS.

As of December 1, 2023, AKTS stock price was flat at $0.57 with 565,741 million shares trading.

AKTS has a beta of 3.73, meaning it tends to be more sensitive to market movements. AKTS has a correlation of 0.31 to the broad based SPY ETF.

AKTS has a market cap of $41.24 million. This is considered a Sub-Micro Cap stock.

Last quarter Akoustis Technologies reported $7 million in Revenue and -$.27 earnings per share. This fell short of revenue expectation by $-78,000 and missed earnings estimates by -$.09.

In the last 3 years, AKTS stock traded as high as $19.15 and as low as $.46.

The top ETF exchange traded funds that AKTS belongs to (by Net Assets): VTI, IWM, VXF, IWO, VTWO.

AKTS has underperformed the market in the last year with a price return of -85.0% while the SPY ETF gained +14.2%. AKTS has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -63.5% and -17.3%, respectively, while the SPY returned +2.1% and +2.0%, respectively.

AKTS support price is $.51 and resistance is $.63 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AKTS stock will trade within this expected range on the day.