Cormark Analysts Reduce Earnings Estimates for Akumin Inc. (NASDAQ:AKU)

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Akumin Inc. (NASDAQ:AKU) – Equities researchers at Cormark dropped their FY2021 earnings estimates for Akumin in a research report issued to clients and investors on Monday, April 5th. Cormark analyst K. Mcphee now forecasts that the company will post earnings of $0.18 per share for the year, down from their previous estimate of $0.23.

Several other research analysts have also recently issued reports on AKU. Clarus Securities reissued a “buy” rating on shares of Akumin in a report on Tuesday, February 9th. Zacks Investment Research cut shares of Akumin from a “hold” rating to a “sell” rating in a report on Tuesday.

Shares of Akumin stock opened at $3.28 on Tuesday. The business’s fifty day simple moving average is $3.60. Akumin has a 1 year low of $1.69 and a 1 year high of $4.10.

Akumin (NASDAQ:AKU) last issued its earnings results on Wednesday, March 31st. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.13.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Koshinski Asset Management Inc. purchased a new position in Akumin in the fourth quarter valued at $4,181,000. New York Life Investments Alternatives acquired a new stake in shares of Akumin in the fourth quarter valued at about $43,000. SCW Capital Management LP grew its position in shares of Akumin by 27.6% in the fourth quarter. SCW Capital Management LP now owns 11,437,308 shares of the company’s stock valued at $34,426,000 after purchasing an additional 2,471,923 shares during the period. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Akumin in the fourth quarter valued at about $309,000. 30.37% of the stock is owned by institutional investors.

Akumin Company Profile

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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