📈Akoustis Technologies (AKTS): Volume Soars with +244% 5-Day Streak! What’s Behind the Surge?🚀
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Akoustis Technologies
$AKTS has been making waves in the stock market lately, especially with its notable volume surge. Over the past five consecutive days, AKTS has seen an impressive average daily volume gain of 244%. Despite the broader Telecommunications Equipment industry trending downwards, this stock has drawn considerable attention from investors and traders alike.
📊Volume vs. Price Dynamics
The stock's volume momentum contrasts with its recent price performance. AKTS experienced a price decline of -39.05%, settling at $0.92. Such a divergence between volume and price could suggest a potential trend reversal, making it an enticing buy signal for some investors. Historical data seems to support this bullish view: A.I.dvisor's analysis of 48 similar volume-price patterns in the past found that 39 (or 81%) were followed by positive price movements.
🔢Earnings Report
However, it’s crucial to factor in the company’s recent earnings report from September 06. AKTS reported an earnings per share (EPS) of -20 cents, falling short of the estimated -16 cents. The firm’s current market capitalization stands at 75.25M, backed by 2.41M shares outstanding.
🌐Industry Overview
AKTS is nestled within the Telecommunications Equipment industry, which has been grappling with an average weekly price decline of -1%. This industry is responsible for producing a myriad of critical communications equipment, from fiber optic products to satellite systems. Titans in this space include Cisco Systems, Nokia Corp, and Apple Inc., amongst others.
💹Market Capitalization Insights
The Telecommunications Equipment Industry has a broad market cap spectrum, ranging from a meager 1.59K to a whopping 229.87B. Unsurprisingly, Cisco Systems (CSCO) claims the throne with the highest valuation, whereas ABILF stands at the other end of the spectrum.
📉Recent Performance
The last five trading days for AKTS weren't too rosy, with the stock shedding -16.34%. This was accompanied by a trade volume of approximately 285,696 shares daily. A significant drawdown of -36.05% was observed during this period.
While Akoustis Technologies has experienced a dip in its stock price, the explosive volume could hint at a turning point. As always, investors should conduct their due diligence and factor in both the micro and macroeconomic elements before making investment decisions.
Join us next week as we dive deeper into the intricacies of the Telecommunications Equipment industry and explore potential hidden gems!
AKTS's Indicator enters downward trend
The Aroon Indicator for AKTS entered a downward trend on September 15, 2023. Tickeron's A.I.dvisor identified a pattern where the AroonDown red line was above 70 while the AroonUp green line was below 30 for three straight days. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options. A.I.dvisor looked at 218 similar instances where the Aroon Indicator formed such a pattern. In of the 218 cases the stock moved lower. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The Moving Average Convergence Divergence Histogram (MACD) for AKTS turned negative on September 06, 2023. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 42 similar instances when the indicator turned negative. In of the 42 cases the stock turned lower in the days that followed. This puts the odds of success at .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AKTS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
Bullish Trend Analysis
The RSI Indicator shows that the ticker has stayed in the oversold zone for 10 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an Uptrend is expected.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 16 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AKTS advanced for three days, in of 283 cases, the price rose further within the following month. The odds of a continued upward trend are .
AKTS may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Fundamental Analysis (Ratings)
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.684) is normal, around the industry mean (7.745). P/E Ratio (0.000) is within average values for comparable stocks, (43.936). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (2.247). AKTS has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.042). P/S Ratio (1.912) is also within normal values, averaging (22.549).
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating slightly worse than average price growth. AKTS’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. AKTS’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock worse than average.
Notable companies
Industry description
Market Cap
High and low price notable news
Volume
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a manufacturer of filter products for radio frequency front-ends for mobile wireless devices
Industry TelecommunicationsEquipment
AKTS and
Correlation & Price change
A.I.dvisor indicates that over the last year, AKTS has been loosely correlated with INSG. These tickers have moved in lockstep 38% of the time. This A.I.-generated data suggests there is some statistical probability that if AKTS jumps, then INSG could also see price increases.
| Ticker / NAME | Correlation To AKTS | 1D Price Change % | ||
|---|---|---|---|---|
| AKTS | 100% | -0.01% | ||
| INSG - AKTS | 38% Loosely correlated | +5.25% | ||
| ZBRA - AKTS | 33% Poorly correlated | -6.48% | ||
| LTRX - AKTS | 33% Poorly correlated | -1.25% | ||
| CMTL - AKTS | 33% Poorly correlated | -0.23% | ||
| DGII - AKTS | 32% Poorly correlated | -2.18% | ||
More | ||||