Akoustis Technologies (NASDAQ:AKTS) Shares Pass Below 50-Day Moving Average of $0.11

Akoustis Technologies, Inc. (NASDAQ:AKTS) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $0.11 and traded as low as $0.08. Akoustis Technologies shares last traded at $0.08, with a volume of 3,416,745 shares.

Akoustis Technologies Stock Down 9.2 %

The business’s fifty day moving average price is $0.11 and its 200 day moving average price is $0.33. The firm has a market capitalization of $6.32 million, a price-to-earnings ratio of -0.07 and a beta of 1.60. The company has a current ratio of 1.57, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00.

Institutional Investors Weigh In On Akoustis Technologies

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Marathon Capital Management grew its holdings in shares of Akoustis Technologies by 108.2% during the fourth quarter. Marathon Capital Management now owns 35,600 shares of the technology company’s stock worth $30,000 after buying an additional 18,500 shares during the last quarter. Taylor Frigon Capital Management LLC grew its stake in shares of Akoustis Technologies by 303.4% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 3,358,195 shares of the technology company’s stock valued at $1,985,000 after purchasing an additional 2,525,823 shares during the last quarter. BNP Paribas Financial Markets increased its holdings 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 valued at $49,000 after purchasing an additional 26,654 shares during the period. AMH Equity Ltd purchased a new stake in shares of Akoustis Technologies during the first quarter worth approximately $148,000. Finally, Perkins Capital Management Inc. lifted its holdings 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 during the period. 28.84% of the stock is owned by hedge funds and other institutional investors.

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.