Akoustis Technologies, Inc. (NASDAQ:AKTS) Sees Significant Decline in Short Interest

Akoustis Technologies, Inc. (NASDAQ:AKTS) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 4,640,000 shares, a decline of 45.3% from the August 15th total of 8,480,000 shares. Based on an average trading volume of 8,150,000 shares, the days-to-cover ratio is currently 0.6 days.

Akoustis Technologies Stock Down 8.5 %

Akoustis Technologies stock traded down $0.01 during trading on Friday, reaching $0.06. 10,501,916 shares of the company’s stock were exchanged, compared to its average volume of 7,551,125. The company’s 50-day moving average is $0.10 and its two-hundred day moving average is $0.30. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.57. Akoustis Technologies has a 52-week low of $0.05 and a 52-week high of $1.19. The firm has a market cap of $5.52 million, a price-to-earnings ratio of -0.06 and a beta of 1.65.

Institutional Investors Weigh In On Akoustis Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Marathon Capital Management lifted its position in Akoustis Technologies by 108.2% during the 4th quarter. Marathon Capital Management now owns 35,600 shares of the technology company’s stock worth $30,000 after acquiring an additional 18,500 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Akoustis Technologies by 47.9% in the first quarter. BNP Paribas Financial Markets now owns 82,295 shares of the technology company’s stock valued at $49,000 after purchasing an additional 26,654 shares during the period. Adalta Capital Management LLC acquired a new stake in Akoustis Technologies during the 1st quarter valued at $95,000. Vanguard Group Inc. grew its holdings in Akoustis Technologies by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 3,824,953 shares of the technology company’s stock valued at $2,261,000 after purchasing an additional 198,149 shares in the last quarter. Finally, AMH Equity Ltd purchased a new stake in Akoustis Technologies during the 1st quarter worth $148,000. Hedge funds and other institutional investors own 28.84% of the company’s stock.

Akoustis Technologies Company Profile

Akoustis Technologies, Inc, through its subsidiary, Akoustis, Inc, designs, develops, manufactures, and sells radio frequency (RF) filter products for the mobile wireless device industry in the United States, Asia, Europe, and internationally. It operates through Foundry Fabrication Services and RF Filters segments.