Akoustis Technologies, Inc. (NASDAQ:AKTS) Sees Large Growth in Short Interest

Akoustis Technologies, Inc. (NASDAQ:AKTS) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 5,330,000 shares, an increase 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 short-interest ratio is currently 0.4 days.

Institutional Trading of Akoustis Technologies

Several institutional investors have recently modified their holdings of AKTS. BNP Paribas Financial Markets lifted its position in 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 during the period. Adalta Capital Management LLC acquired a new position in shares of Akoustis Technologies in the 1st quarter valued at $95,000. AWM Investment Company Inc. acquired a new position in shares of Akoustis Technologies in the 1st quarter valued at $909,000. Perkins Capital Management Inc. lifted its holdings 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 during the period. Finally, Vanguard Group Inc. boosted its position 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 valued at $2,261,000 after acquiring an additional 198,149 shares in the last quarter. Institutional investors and hedge funds own 28.84% of the company’s stock.

Akoustis Technologies Stock Performance

NASDAQ:AKTS opened at $0.05 on Wednesday. The firm’s 50-day moving average is $0.07 and its 200-day moving average is $0.15. The company has a market cap of $7.36 million, a price-to-earnings ratio of -0.05 and a beta of 1.69. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.41 and a current ratio of 0.44. Akoustis Technologies has a 52-week low of $0.04 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.