Akoustis Technologies, Inc. (NASDAQ:AKTS) Short Interest Up 300.8% in October

Akoustis Technologies, Inc. (NASDAQ:AKTS) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 5,330,000 shares, an increase of 300.8% from the October 15th total of 1,330,000 shares. Based on an average trading volume of 11,960,000 shares, the short-interest ratio is currently 0.4 days.

Institutional Investors Weigh In On Akoustis Technologies

A number of institutional investors have recently modified their holdings of AKTS. Perkins Capital Management Inc. grew its position 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 valued at $1,422,000 after purchasing an additional 1,798,500 shares during the last quarter. AWM Investment Company Inc. bought a new position in shares of Akoustis Technologies in the first quarter worth approximately $909,000. Silverback Asset Management LLC grew its holdings in shares of Akoustis Technologies by 23.9% during the first 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. Vanguard Group Inc. increased its position in shares of Akoustis Technologies by 5.5% during the first quarter. Vanguard Group Inc. now owns 3,824,953 shares of the technology company’s stock valued at $2,261,000 after acquiring an additional 198,149 shares in the last quarter. Finally, Adalta Capital Management LLC purchased a new position in Akoustis Technologies in the 1st quarter worth approximately $95,000. 28.84% of the stock is owned by hedge funds and other institutional investors.

Akoustis Technologies Stock Performance

Shares of AKTS opened at $0.05 on Thursday. Akoustis Technologies has a 52 week low of $0.04 and a 52 week high of $1.19. The company has a quick ratio of 0.41, a current ratio of 0.44 and a debt-to-equity ratio of 1.00. The stock has a market cap of $7.28 million, a P/E ratio of -0.05 and a beta of 1.69. The business’s 50 day moving average price is $0.07 and its 200-day moving average price is $0.15.

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.