Akers Biosciences Inc (AKER) Sees Large Drop in Short Interest

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Akers Biosciences Inc (NASDAQ:AKER) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 10,079,139 shares, a drop of 17.1% from the October 15th total of 12,159,094 shares. Based on an average daily trading volume, of 5,494,608 shares, the days-to-cover ratio is presently 1.8 days. Currently, 11.0% of the shares of the stock are short sold.

AKER stock opened at $2.37 on Friday. Akers Biosciences has a 12 month low of $0.96 and a 12 month high of $7.84.

Akers Biosciences (NASDAQ:AKER) last released its earnings results on Tuesday, August 14th. The medical instruments supplier reported ($0.02) EPS for the quarter. Akers Biosciences had a negative net margin of 266.60% and a negative return on equity of 97.10%. The firm had revenue of $0.53 million during the quarter.

A number of hedge funds have recently added to or reduced their stakes in AKER. Northern Trust Corp bought a new position in Akers Biosciences in the 1st quarter valued at about $128,000. BlackRock Inc. increased its holdings in Akers Biosciences by 8,438.7% in the 2nd quarter. BlackRock Inc. now owns 1,315,815 shares of the medical instruments supplier’s stock valued at $509,000 after buying an additional 1,300,405 shares during the period. Finally, Candriam Luxembourg S.C.A. bought a new position in Akers Biosciences in the 3rd quarter valued at about $348,000. 7.64% of the stock is currently owned by hedge funds and other institutional investors.

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Akers Biosciences Company Profile

Akers Biosciences, Inc, together with its subsidiaries, develops, manufactures, and supplies rapid screening and testing products designed to deliver healthcare information to healthcare providers and consumers in the United States, the People's Republic of China, and internationally. The company's marketed products include BreathScan, a disposable breath alcohol detector; BreathScan PRO, a quantitative breath alcohol detection system; METRON, a disposable breath ketone device to monitor ketosis; and BreathScan Lync, a non-invasive, quantitative measurement of biological markers for health and wellness.

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