Akoustis Technologies (NASDAQ:AKTS) Shares Pass Below 50-Day Moving Average of $0.23

Akoustis Technologies, Inc. (NASDAQ:AKTS) shares passed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.23 and traded as low as $0.12. Akoustis Technologies shares last traded at $0.13, with a volume of 4,280,086 shares trading hands.

Akoustis Technologies Trading Up 3.9 %

The stock’s 50-day moving average is $0.22 and its 200 day moving average is $0.50. The company has a current ratio of 1.57, a quick ratio of 1.29 and a debt-to-equity ratio of 1.00.

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

Institutional Trading of Akoustis Technologies

Institutional investors have recently added to or reduced their stakes in the business. Marathon Capital Management lifted its stake in shares of Akoustis Technologies by 108.2% in the fourth quarter. Marathon Capital Management now owns 35,600 shares of the technology company’s stock worth $30,000 after buying an additional 18,500 shares during the last quarter. Griffin Asset Management Inc. acquired a new stake in shares of Akoustis Technologies in the fourth quarter worth $33,000. BNP Paribas Financial Markets lifted its stake in shares of Akoustis Technologies by 47.9% in 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 last quarter. Adalta Capital Management LLC bought a new position in Akoustis Technologies during the first quarter worth $95,000. Finally, AMH Equity Ltd bought a new position in Akoustis Technologies during the first quarter worth $148,000. 28.84% of the stock is currently 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.