Akoustis Technologies, Inc. (NASDAQ:AKTS – Get Rating ) was the target of high interest rates in December. As of December 30th, there was a short interest of 4,920,000 shares, a growth of 10.6% from the December 15th figure of 4,450,000 shares. Based on daily volume of 426,700 shares, short interest is 11.5 days.
Hedge Funds Weigh On Akoustis Technologies
Several institutional investors and hedge funds have added to or reduced their stakes in the business. Advisor Group Holdings Inc. grew its position in Akoustis Technologies by 14.3% during the first quarter. Advisor Group Holdings Inc. now owns 17,963 shares of the technology company’s stock valued at $117,000 after buying an additional 2,253 shares during the period. Alliancebernstein LP boosted its stake in shares of Akoustis Technologies by 17.5% in the third quarter. Alliancebernstein LP now owns 18,100 shares of the technology company’s stock valued at $54,000 after acquiring an additional 2,700 shares during the last period. Financial Advocates Investment Management purchased a new stake in shares of Akoustis Technologies in the third quarter valued at about $548,000. Endurance Wealth Management Inc. grew its stake in shares of Akoustis Technologies by 1.1% in the second quarter. Endurance Wealth Management Inc. now owns 275,571 shares of the technology company’s stock valued at $1,019,000 after acquiring an additional 3,068 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Akoustis Technologies by 15.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 27,990 shares of the technology company’s stock valued at $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.
Company Opinion Akoustis Technologies Stock Performance
Shares of AKTS stock opened at $3.02 on Friday. The stock has a market cap 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 50-day moving average is $3.28 and the 200-day average is $3.56. The company has a quick ratio of 5.39, a current ratio of 5.75 and a debt ratio of 0.51.
Akoustis Technologies (NASDAQ:AKTS – Get Stats ) last posted its earnings results on Monday, November 14. The technology company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) and ($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 margin of 342.71% and a negative return on investment of 51.16%. As a group, equities research analysts predict that Akoustis Technologies will post -0.94 EPS for the current year.
Changes in Analyst Ratings
AKTS has been the subject of several research reports. Craig Hallum cut their price target 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 the stock to an “outperform” rating in a research report on Monday, November 14th.
More on Akoustis Technologies
Akoustis Technologies, Inc is a filter manufacturing company, engaged in the design, manufacture, and manufacture of RF (RF) filter products. It operates through the divisions of Foundry Fabrication Services and RF Filters. The Foundry Fabrication Services segment is comprised of engineering review services and basic STC-MEMS services.
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