Akoustis Technologies, Inc. (NASDAQ:AKTS) Sees Significant Drop in Short Interest

Akoustis Technologies, Inc. (NASDAQ:AKTS) saw a significant decrease in short interest in September. As of September 15th, there was short interest totalling 2,800,000 shares, a decrease of 39.7% from the August 31st total of 4,640,000 shares. Based on an average trading volume of 9,890,000 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted 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 worth $2,261,000 after buying an additional 198,149 shares during the period. AMH Equity Ltd acquired a new position in Akoustis Technologies during the 1st quarter worth approximately $148,000. Taylor Frigon Capital Management LLC grew 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. Adalta Capital Management LLC acquired a new stake in shares of Akoustis Technologies in the first quarter valued at approximately $95,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Akoustis Technologies by 47.9% in the first quarter. BNP Paribas Financial Markets now owns 82,295 shares of the technology company’s stock worth $49,000 after purchasing an additional 26,654 shares in the last quarter. Institutional investors and hedge funds own 28.84% of the company’s stock.

Akoustis Technologies Price Performance

NASDAQ AKTS opened at $0.08 on Friday. 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 stock has a market cap of $8.00 million, a price-to-earnings ratio of -0.08 and a beta of 1.65. The business has a 50 day simple moving average of $0.09 and a 200 day simple moving average of $0.27. Akoustis Technologies has a 52-week low of $0.05 and a 52-week high of $1.19.

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.