Akoustis Technologies, Inc. (NASDAQ:AKTS) Short Interest Down 26.8% in July

Akoustis Technologies, Inc. (NASDAQ:AKTS) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 4,100,000 shares, a decrease of 26.8% from the July 15th total of 5,600,000 shares. Based on an average daily volume of 14,950,000 shares, the days-to-cover ratio is presently 0.3 days.

Akoustis Technologies Stock Performance

NASDAQ:AKTS remained flat at $0.09 on Friday. 8,342,611 shares of the company traded hands, compared to its average volume of 7,577,272. The company’s 50 day moving average price is $0.12 and its 200 day moving average price is $0.39. The stock has a market cap of $9.11 million, a PE ratio of -0.09 and a beta of 1.60. Akoustis Technologies has a fifty-two week low of $0.07 and a fifty-two week high of $2.02. The company has a quick ratio of 1.29, a current ratio of 1.57 and a debt-to-equity ratio of 1.00.

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

Institutional Trading of Akoustis Technologies

Hedge funds have recently made changes to their positions in the company. Marathon Capital Management raised its position in shares of Akoustis Technologies by 108.2% during the fourth quarter. Marathon Capital Management now owns 35,600 shares of the technology company’s stock worth $30,000 after acquiring an additional 18,500 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Akoustis Technologies by 47.9% during 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 during the period. Adalta Capital Management LLC bought a new position in Akoustis Technologies during the first quarter worth $95,000. AMH Equity Ltd bought a new position in Akoustis Technologies during the first quarter worth $148,000. Finally, AWM Investment Company Inc. acquired a new position in Akoustis Technologies in the first quarter valued at $909,000. 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.