Akoustis Technologies, Inc. (NASDAQ:AKTS) Sees Large Decline in Short Interest

Akoustis Technologies, Inc. (NASDAQ:AKTS) was the target of a significant decrease in short interest during the month of November. As of November 15th, there was short interest totalling 3,590,000 shares, a decrease of 32.6% from the October 31st total of 5,330,000 shares. Based on an average daily trading volume, of 20,390,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On Akoustis Technologies

An institutional investor recently raised its position in Akoustis Technologies stock. Vanguard Group Inc. increased its holdings in shares of Akoustis Technologies, Inc. (NASDAQ:AKTS) by 5.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,824,953 shares of the technology company’s stock after acquiring an additional 198,149 shares during the period. Vanguard Group Inc. owned approximately 3.88% of Akoustis Technologies worth $2,261,000 as of its most recent SEC filing. 28.84% of the stock is owned by hedge funds and other institutional investors.

Akoustis Technologies Stock Performance

Shares of Akoustis Technologies stock opened at $0.11 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.32 and a debt-to-equity ratio of 1.00. The firm’s 50 day moving average price is $0.07 and its 200-day moving average price is $0.11. Akoustis Technologies has a 52-week low of $0.04 and a 52-week high of $1.19.

Akoustis Technologies Company Profile

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.