Short Interest in Akoustis Technologies, Inc. (NASDAQ:AKTS) Declines By 49.6%

Akoustis Technologies, Inc. (NASDAQ:AKTS) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 1,410,000 shares, a drop of 49.6% from the September 15th total of 2,800,000 shares. Based on an average daily volume of 9,370,000 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Akoustis Technologies

Hedge funds have recently modified their holdings of the company. Taylor Frigon Capital Management LLC boosted its stake in shares of Akoustis Technologies by 303.4% during the 1st 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 in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Akoustis Technologies by 47.9% during 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 in the last quarter. AMH Equity Ltd bought a new stake in shares of Akoustis Technologies during the 1st quarter worth $148,000. Perkins Capital Management Inc. boosted its stake in shares of 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 acquiring an additional 1,798,500 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Akoustis Technologies by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 3,824,953 shares of the technology company’s stock worth $2,261,000 after acquiring an additional 198,149 shares in the last quarter. 28.84% of the stock is currently owned by institutional investors and hedge funds.

Akoustis Technologies Price Performance

Shares of AKTS stock opened at $0.08 on Friday. Akoustis Technologies has a 1 year low of $0.05 and a 1 year high of $1.19. The stock has a market cap of $7.41 million, a PE ratio of -0.08 and a beta of 1.65. The business’s fifty day moving average is $0.08 and its 200-day moving average is $0.24. 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 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.