Akoustis Technologies (NASDAQ:AKTS) Stock Crosses Below 50-Day Moving Average – Here’s What Happened

Akoustis Technologies, Inc. (NASDAQ:AKTS) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $0.08 and traded as low as $0.07. Akoustis Technologies shares last traded at $0.08, with a volume of 12,959,899 shares traded.

Akoustis Technologies Trading Up 11.9 %

The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.29 and a current ratio of 1.57. The firm has a 50-day moving average of $0.08 and a 200-day moving average of $0.24. The firm has a market capitalization of $8.27 million, a P/E ratio of -0.08 and a beta of 1.65.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its holdings in Akoustis Technologies by 47.9% in the 1st quarter. BNP Paribas Financial Markets now owns 82,295 shares of the technology company’s stock worth $49,000 after acquiring an additional 26,654 shares during the last quarter. Adalta Capital Management LLC bought a new stake in shares of Akoustis Technologies in the first quarter worth about $95,000. Vanguard Group Inc. increased 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 during the period. AMH Equity Ltd bought a new position in Akoustis Technologies during the 1st quarter valued at approximately $148,000. Finally, Silverback Asset Management LLC lifted its holdings in Akoustis Technologies by 23.9% in the 1st quarter. Silverback Asset Management LLC now owns 4,238,389 shares of the technology company’s stock worth $2,505,000 after buying an additional 817,938 shares during the period. 28.84% of the stock is owned by hedge funds and other institutional investors.

About Akoustis Technologies

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.