Akoustis Technologies, Inc. (NASDAQ:AKTS) Short Interest Down 27.9% in June

Akoustis Technologies, Inc. (NASDAQ:AKTS) was the target of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 7,460,000 shares, a decrease of 27.9% from the May 31st total of 10,340,000 shares. Based on an average trading volume of 12,250,000 shares, the short-interest ratio is presently 0.6 days.

Akoustis Technologies Stock Performance

Shares of AKTS stock opened at $0.13 on Friday. The stock has a market cap of $12.99 million, a PE ratio of -0.13 and a beta of 1.61. 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 1 year low of $0.11 and a 1 year high of $3.24. The stock has a fifty day moving average price of $0.31 and a 200 day moving average price of $0.54.

Akoustis Technologies (NASDAQ:AKTS) last issued its quarterly earnings results on Monday, May 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Akoustis Technologies had a negative return on equity of 98.96% and a negative net margin of 257.56%. The firm had revenue of $7.51 million for the quarter, compared to analysts’ expectations of $8.56 million. During the same quarter last year, the firm earned ($0.20) earnings per share. Sell-side analysts forecast that Akoustis Technologies will post -0.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Akoustis Technologies

Institutional investors and hedge funds have recently bought and sold shares of the stock. Taylor Frigon Capital Management LLC increased its position in shares of Akoustis Technologies by 303.4% during the first quarter. Taylor Frigon Capital Management LLC now owns 3,358,195 shares of the technology company’s stock worth $1,985,000 after acquiring an additional 2,525,823 shares during the last quarter. Perkins Capital Management Inc. increased its holdings in Akoustis Technologies by 296.5% during the 1st quarter. Perkins Capital Management Inc. now owns 2,405,152 shares of the technology company’s stock worth $1,422,000 after purchasing an additional 1,798,500 shares during the last quarter. AWM Investment Company Inc. acquired a new position in shares of Akoustis Technologies in the 1st quarter valued at approximately $909,000. Silverback Asset Management LLC boosted its stake in shares of Akoustis Technologies by 23.9% during the 1st quarter. Silverback Asset Management LLC now owns 4,238,389 shares of the technology company’s stock valued at $2,505,000 after buying an additional 817,938 shares during the last quarter. Finally, AMH Equity Ltd purchased a new position in shares of Akoustis Technologies during the 1st quarter valued at approximately $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.