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

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

Institutional Trading of Akoustis Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its stake in shares of Akoustis Technologies by 47.9% in the 1st quarter. BNP Paribas Financial Markets now owns 82,295 shares of the technology company’s stock valued at $49,000 after acquiring an additional 26,654 shares in the last quarter. Adalta Capital Management LLC acquired a new stake in shares of Akoustis Technologies in the first quarter worth $95,000. AWM Investment Company Inc. bought a new stake in shares of Akoustis Technologies during the 1st quarter worth $909,000. Perkins Capital Management Inc. grew its stake in Akoustis Technologies by 296.5% in 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 buying an additional 1,798,500 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Akoustis Technologies by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 3,824,953 shares of the technology company’s stock valued at $2,261,000 after buying an additional 198,149 shares during the last quarter. Institutional investors and hedge funds own 28.84% of the company’s stock.

Akoustis Technologies Stock Performance

Shares of NASDAQ:AKTS opened at $0.05 on Wednesday. The company has a current ratio of 0.44, a quick ratio of 0.41 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $7.36 million, a PE ratio of -0.05 and a beta of 1.69. Akoustis Technologies has a 1 year low of $0.04 and a 1 year high of $1.19. The firm has a fifty day moving average price of $0.07 and a 200 day moving average price of $0.15.

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.