Short Interest in Akoustis Technologies, Inc. (NASDAQ:AKTS) Drops By 5.7%

Akoustis Technologies, Inc. (NASDAQ:AKTS) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 1,330,000 shares, a decline of 5.7% from the September 30th total of 1,410,000 shares. Based on an average trading volume of 10,200,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Akoustis Technologies

Several large investors have recently added to or reduced their stakes in the stock. Silverback Asset Management LLC boosted its position 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 worth $2,505,000 after purchasing an additional 817,938 shares during the period. Vanguard Group Inc. increased its stake in Akoustis Technologies by 5.5% during the first quarter. Vanguard Group Inc. now owns 3,824,953 shares of the technology company’s stock worth $2,261,000 after purchasing an additional 198,149 shares during the period. Perkins Capital Management Inc. lifted its position in shares of Akoustis Technologies by 296.5% during the first 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 in the last quarter. AWM Investment Company Inc. acquired a new position in shares of Akoustis Technologies in the first quarter valued at approximately $909,000. Finally, AMH Equity Ltd acquired a new position in shares of Akoustis Technologies in the first quarter valued at approximately $148,000. 28.84% of the stock is currently owned by hedge funds and other institutional investors.

Akoustis Technologies Stock Performance

Shares of Akoustis Technologies stock opened at $0.06 on Thursday. Akoustis Technologies has a 1-year low of $0.05 and a 1-year high of $1.19. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 1.29. The stock has a market cap of $6.05 million, a P/E ratio of -0.06 and a beta of 1.65. The stock’s 50 day simple moving average is $0.07 and its 200-day simple moving average is $0.18.

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.