Akoustis Technologies, Inc. (NASDAQ:AKTS) Short Interest Up 10.6% in December
Akoustis Technologies, Inc. (NASDAQ:AKTS - Get Rating) was the target of a significant growth in short interest in December. As of December 30th, there was short interest totalling 4,920,000 shares, a growth of 10.6% from the December 15th total of 4,450,000 shares. Based on an average daily volume of 426,700 shares, the short-interest ratio is presently 11.5 days.
Hedge Funds Weigh In On Akoustis Technologies
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisor Group Holdings Inc. increased its position in Akoustis Technologies by 14.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 17,963 shares of the technology company's stock worth $117,000 after purchasing an additional 2,253 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Akoustis Technologies by 17.5% during the 3rd quarter. Alliancebernstein L.P. now owns 18,100 shares of the technology company's stock worth $54,000 after acquiring an additional 2,700 shares in the last quarter. Financial Advocates Investment Management purchased a new stake in shares of Akoustis Technologies during the 3rd quarter worth approximately $548,000. Endurance Wealth Management Inc. boosted its stake in shares of Akoustis Technologies by 1.1% during the 2nd quarter. Endurance Wealth Management Inc. now owns 275,571 shares of the technology company's stock worth $1,019,000 after acquiring an additional 3,068 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Akoustis Technologies by 15.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 27,990 shares of the technology company's stock worth $104,000 after acquiring an additional 3,709 shares in the last quarter. Institutional investors and hedge funds own 49.05% of the company's stock.
Akoustis Technologies Stock Performance
Shares of AKTS stock opened at $3.02 on Friday. The stock has a market capitalization of $172.83 million, a PE ratio of -2.56 and a beta of 1.63. Akoustis Technologies has a 52-week low of $2.28 and a 52-week high of $7.13. The stock's 50-day moving average price is $3.28 and its 200 day moving average price is $3.56. The company has a quick ratio of 5.39, a current ratio of 5.75 and a debt-to-equity ratio of 0.51.
Akoustis Technologies (NASDAQ:AKTS - Get Rating) last issued its quarterly earnings results on Monday, November 14th. The technology company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.08). The company had revenue of $5.57 million during the quarter, compared to analyst estimates of $5.59 million. Akoustis Technologies had a negative net margin of 342.71% and a negative return on equity of 51.16%. As a group, equities research analysts forecast that Akoustis Technologies will post -0.94 EPS for the current year.
Analyst Ratings Changes
AKTS has been the topic of a number of research analyst reports. Craig Hallum cut their target price on Akoustis Technologies to $7.00 in a research report on Thursday, November 17th. Oppenheimer cut their target price on Akoustis Technologies from $8.00 to $7.00 and set an "outperform" rating on the stock in a research report on Monday, November 14th.
About Akoustis Technologies
Akoustis Technologies, Inc is a filter solutions company, which engages in the development, design, and manufacture of radio frequency (RF) filter products. It operates through the Foundry Fabrication Services and RF Filters segments. The Foundry Fabrication Services segment is composed of engineering review services and STC-MEMS foundry services.
Further Reading
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