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

Akoustis Technologies, Inc. (NASDAQ:AKTSGet Free Report) saw a significant decline in short interest in June. As of June 15th, there was short interest totalling 7,460,000 shares, a decline of 27.9% from the May 31st total of 10,340,000 shares. Based on an average daily volume of 12,250,000 shares, the days-to-cover ratio is currently 0.6 days.

Akoustis Technologies Trading Down 11.4 %

Akoustis Technologies stock opened at $0.13 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. The business’s fifty day moving average is $0.31 and its two-hundred day moving average is $0.54. Akoustis Technologies has a 52 week low of $0.11 and a 52 week high of $3.24.

Akoustis Technologies (NASDAQ:AKTSGet Free Report) last posted its quarterly earnings data on Monday, May 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). Akoustis Technologies had a negative return on equity of 98.96% and a negative net margin of 257.56%. The business had revenue of $7.51 million during the quarter, compared to analyst estimates of $8.56 million. During the same period in the prior year, the firm posted ($0.20) EPS. On average, equities analysts forecast that Akoustis Technologies will post -0.7 EPS for the current year.

Hedge Funds Weigh In On Akoustis Technologies

Several large investors have recently made changes to their positions in AKTS. Taylor Frigon Capital Management LLC lifted its stake in shares of Akoustis Technologies by 303.4% during the first quarter. Taylor Frigon Capital Management LLC now owns 3,358,195 shares of the technology company’s stock valued at $1,985,000 after acquiring an additional 2,525,823 shares during the period. Perkins Capital Management Inc. lifted its stake 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 valued at $1,422,000 after acquiring an additional 1,798,500 shares during the period. AWM Investment Company Inc. acquired a new position in shares of Akoustis Technologies during the first quarter valued at $909,000. Silverback Asset Management LLC lifted its stake in shares of Akoustis Technologies by 23.9% during the first quarter. Silverback Asset Management LLC now owns 4,238,389 shares of the technology company’s stock valued at $2,505,000 after acquiring an additional 817,938 shares during the period. Finally, AMH Equity Ltd acquired a new position in shares of Akoustis Technologies during the first quarter valued at $148,000. Institutional investors and hedge funds own 28.84% of the company’s stock.

Akoustis Technologies Company Profile

(Get Free Report)

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.

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