Akumin Inc. (NASDAQ:AKU) Expected to Announce Quarterly Sales of $70.30 Million

Equities analysts expect Akumin Inc. (NASDAQ:AKU) to report sales of $70.30 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Akumin’s earnings, with the highest sales estimate coming in at $70.80 million and the lowest estimate coming in at $69.80 million. The company is expected to report its next earnings results on Monday, August 16th.

On average, analysts expect that Akumin will report full year sales of $293.53 million for the current fiscal year, with estimates ranging from $282.30 million to $301.30 million. For the next fiscal year, analysts forecast that the company will post sales of $327.87 million, with estimates ranging from $298.00 million to $355.90 million. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Akumin.

Akumin (NASDAQ:AKU) last announced its earnings results on Wednesday, March 31st. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.13. The firm had revenue of $58.20 million during the quarter.

Separately, Zacks Investment Research cut Akumin from a “hold” rating to a “sell” rating in a research report on Wednesday, May 19th.

Several hedge funds have recently bought and sold shares of AKU. Koshinski Asset Management Inc. purchased a new position in shares of Akumin during the 4th quarter valued at about $4,181,000. SCW Capital Management LP lifted its position in shares of Akumin by 27.6% during the 4th quarter. SCW Capital Management LP now owns 11,437,308 shares of the company’s stock valued at $34,426,000 after buying an additional 2,471,923 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of Akumin during the 4th quarter valued at about $309,000. New York Life Investments Alternatives purchased a new position in shares of Akumin during the 4th quarter valued at about $43,000. Finally, CIBC World Markets Inc. lifted its position in shares of Akumin by 1.5% during the 1st quarter. CIBC World Markets Inc. now owns 434,859 shares of the company’s stock valued at $1,609,000 after buying an additional 6,419 shares in the last quarter. 36.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:AKU opened at $2.98 on Friday. The stock has a market capitalization of $212.04 million and a PE ratio of 298.00. The stock has a 50-day moving average price of $3.00. Akumin has a 52-week low of $1.69 and a 52-week high of $4.10.

About Akumin

Akumin Inc provides outpatient diagnostic imaging services in the United States. Its centers offer physicians with imaging capabilities to facilitate the diagnosis and treatment of diseases and disorders and reduce unnecessary invasive procedures. The company provides various medical imaging services, including magnetic resonance imaging, computed tomography, positron emission tomography, nuclear medicine, mammography, ultrasound, digital radiography, fluoroscopy, and other diagnostic or interventional radiology procedures; and online medical bill payment services.

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