Short Interest in Akoustis Technologies, Inc. (NASDAQ:AKTS) Drops By 17.6%

Akoustis Technologies, Inc. (NASDAQ:AKTS) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totalling 6,150,000 shares, a decrease of 17.6% from the June 15th total of 7,460,000 shares. Based on an average trading volume of 14,030,000 shares, the days-to-cover ratio is presently 0.4 days.

Akoustis Technologies Trading Up 3.9 %

NASDAQ AKTS opened at $0.13 on Monday. The company has a fifty day moving average of $0.22 and a 200 day moving average of $0.49. The company has a market capitalization of $13.08 million, a PE ratio of -0.13 and a beta of 1.60. 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 $0.11 and a 1 year high of $2.82.

Akoustis Technologies (NASDAQ:AKTS) last announced its quarterly earnings results on Monday, May 13th. The technology company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.02). The company had revenue of $7.51 million for the quarter, compared to analyst estimates of $8.56 million. Akoustis Technologies had a negative return on equity of 98.96% and a negative net margin of 257.56%. During the same period in the prior year, the business posted ($0.20) earnings per share. Research analysts forecast that Akoustis Technologies will post -0.7 earnings per share for the current year.

Institutional Investors Weigh In On Akoustis Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AKTS. Taylor Frigon Capital Management LLC grew its position in Akoustis Technologies by 303.4% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 3,358,195 shares of the technology company’s stock worth $1,985,000 after purchasing an additional 2,525,823 shares during the period. Perkins Capital Management Inc. grew its position in 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 purchasing an additional 1,798,500 shares during the period. AWM Investment Company Inc. acquired a new stake in Akoustis Technologies during the 1st quarter worth about $909,000. Silverback Asset Management LLC grew its position in Akoustis Technologies by 23.9% during the 1st quarter. Silverback Asset Management LLC now owns 4,238,389 shares of the technology company’s stock worth $2,505,000 after purchasing an additional 817,938 shares during the period. Finally, AMH Equity Ltd acquired a new stake in shares of Akoustis Technologies during the 1st quarter valued at about $148,000. 28.84% of the stock is owned by institutional investors and hedge funds.

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.