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Surging Earnings Estimates Signal Good News for Akoustis Technologies (AKTS)

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Akoustis Technologies, Inc. (AKTS - Free Report) is a developer and manufacturer of innovative RF filter products for the mobile wireless device industry that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on AKTS’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Akoustis Technologies could be a solid choice for investors.

Current Quarter Estimates for AKTS

In the past 30 days, three estimates have gone higher for Akoustis Technologies while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 30 cents a share 30 days ago, to a loss of 25 cents today, a move of 16.7%.

Current Year Estimates for AKTS

Meanwhile, Akoustis Technologies’ current year figures are also looking quite promising, with three estimates moving higher in the past month, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $1.20 per share 30 days ago to a loss of $1.08 per share today, a move of 10%.

Akoustis Technologies, Inc. Price and Consensus

Bottom Line

The stock has also started to move higher lately, adding 20.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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