Akoustis TechnologiesNASDAQ: AKTS

The accelerated deployment of 5G is enhancing the prospects of the Zacks Semiconductors - Radio Frequency industry players like RF Industries (RFIL) and Akoustis Technologies (AKTS) despite challenging macroeconomic conditions.

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Charlotte, N.C., May 22, 2024 (GLOBE NEWSWIRE) -- Akoustis Technologies, Inc. (Nasdaq: AKTS) (“Akoustis” or the “Company”), an integrated device manufacturer (IDM) of patented bulk acoustic wave (BAW) high-band RF filters for mobile and other wireless applications, announced today that it has entered into definitive securities purchase agreements for the purchase and sale of an aggregate of 50,000,000 shares of the Company's common stock (or common stock equivalents) at a purchase price of $0.20 per share of common stock (or common stock equivalent) in a registered direct offering priced at-the-market under Nasdaq rules. The offering is expected to close on or about May 24, 2024 subject to the satisfaction of customary closing conditions.

Akoustis Technologies (NASDAQ: AKTS ) stock is rocketing higher on Wednesday alongside the rollout of design updates from the radio frequency ( RF ) filter manufacturing company. Akoustis Technologies notes that it has redesigned its XBAW manufacturing process.

Akoustis reported a quarterly loss of $0.14 per share, slightly higher than the expected loss of $0.12 per share according to the Zacks Consensus Estimate. This is an improvement from the loss of $0.20 per share reported in the same quarter last year.

Akoustis (AKTS) lacks the necessary elements for a potential earnings beat in its upcoming report. Be ready for the key expectations.

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Akoustis (AKTS) came out with a quarterly loss of $0.19 per share versus the Zacks Consensus Estimate of a loss of $0.18. This compares to loss of $0.19 per share a year ago.

Akoustis Technologies, Inc. (AKTS) Q2 2024 Earnings Call Transcript