Akoustis Technologies, Inc. (NASDAQ:AKTS) Short Interest Update

Akoustis Technologies, Inc. (NASDAQ:AKTS) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 4,640,000 shares, a drop of 45.3% from the August 15th total of 8,480,000 shares. Based on an average daily volume of 8,150,000 shares, the days-to-cover ratio is currently 0.6 days.

Hedge Funds Weigh In On Akoustis Technologies

Several hedge funds have recently modified their holdings of AKTS. Marathon Capital Management increased its holdings in Akoustis Technologies by 108.2% in the 4th quarter. Marathon Capital Management now owns 35,600 shares of the technology company’s stock valued at $30,000 after acquiring an additional 18,500 shares during the last quarter. 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 buying an additional 26,654 shares in the last quarter. Adalta Capital Management LLC bought a new position in Akoustis Technologies during the first quarter valued at approximately $95,000. AMH Equity Ltd purchased a new position in Akoustis Technologies during the 1st quarter valued at approximately $148,000. Finally, AWM Investment Company Inc. bought a new stake in Akoustis Technologies in the 1st quarter worth approximately $909,000. Hedge funds and other institutional investors own 28.84% of the company’s stock.

Akoustis Technologies Trading Down 8.5 %

AKTS stock opened at $0.06 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.57 and a quick ratio of 1.29. Akoustis Technologies has a 1-year low of $0.05 and a 1-year high of $1.19. The business has a 50 day simple moving average of $0.10 and a two-hundred day simple moving average of $0.31. The company has a market capitalization of $5.52 million, a price-to-earnings ratio of -0.06 and a beta of 1.65.

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.