Akoustis Technologies, Inc. (NASDAQ:AKTS) Short Interest Down 39.7% in September

Akoustis Technologies, Inc. (NASDAQ:AKTS) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 2,800,000 shares, a decline of 39.7% from the August 31st total of 4,640,000 shares. Based on an average daily volume of 9,890,000 shares, the short-interest ratio is currently 0.3 days.

Akoustis Technologies Stock Performance

Shares of NASDAQ AKTS opened at $0.08 on Friday. Akoustis Technologies has a 12 month low of $0.05 and a 12 month high of $1.19. The company has a market cap of $7.41 million, a P/E ratio of -0.08 and a beta of 1.65. The business’s 50 day moving average is $0.09 and its two-hundred day moving average is $0.27. The company has a quick ratio of 1.29, a current ratio of 1.57 and a debt-to-equity ratio of 1.00.

Institutional Investors Weigh In On Akoustis Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in Akoustis Technologies by 47.9% in the 1st 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. Adalta Capital Management LLC bought a new stake in shares of Akoustis Technologies in the first quarter valued at about $95,000. AMH Equity Ltd acquired a new stake in Akoustis Technologies during the first quarter worth about $148,000. AWM Investment Company Inc. bought a new position in Akoustis Technologies during the first quarter valued at about $909,000. Finally, Perkins Capital Management Inc. raised its holdings in Akoustis Technologies by 296.5% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 28.84% of the company’s stock.

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.