Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Akoustis Technologies (AKTS) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of AKTS and the rest of the Computer and Technology group's stocks.
Akoustis Technologies is one of 615 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AKTS is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for AKTS's full-year earnings has moved 14.57% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, AKTS has gained about 1% so far this year. In comparison, Computer and Technology companies have returned an average of -6.60%. As we can see, Akoustis Technologies is performing better than its sector in the calendar year.
To break things down more, AKTS belongs to the Semiconductors - Radio Frequency industry, a group that includes 5 individual companies and currently sits at #21 in the Zacks Industry Rank. This group has lost an average of 27.81% so far this year, so AKTS is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track AKTS. The stock will be looking to continue its solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Akoustis Technologies, Inc. (AKTS) : Free Stock Analysis Report
To read this article on Zacks.com click here.