Akoustis Technologies (NASDAQ:AKTS) Shares Cross Below Fifty Day Moving Average of $0.11

Akoustis Technologies, Inc. (NASDAQ:AKTS)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $0.11 and traded as low as $0.08. Akoustis Technologies shares last traded at $0.08, with a volume of 3,416,745 shares.

Akoustis Technologies Stock Down 9.2 %

The firm’s fifty day simple moving average is $0.11 and its 200 day simple moving average is $0.33. The company has a current ratio of 1.57, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00. The company has a market cap of $6.32 million, a price-to-earnings ratio of -0.07 and a beta of 1.60.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Adalta Capital Management LLC purchased a new position in shares of Akoustis Technologies in the 1st quarter valued at $95,000. AWM Investment Company Inc. purchased a new position in shares of Akoustis Technologies during the first quarter worth about $909,000. Silverback Asset Management LLC increased its position in shares of Akoustis Technologies by 23.9% during the first quarter. Silverback Asset Management LLC now owns 4,238,389 shares of the technology company’s stock worth $2,505,000 after purchasing an additional 817,938 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Akoustis Technologies by 5.5% in the 1st quarter. Vanguard Group Inc. now owns 3,824,953 shares of the technology company’s stock valued at $2,261,000 after purchasing an additional 198,149 shares during the last quarter. Finally, Perkins Capital Management Inc. boosted its position in shares of 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 purchasing an additional 1,798,500 shares during the period. Hedge funds and other institutional investors 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.