Aquabounty Technologies (NASDAQ:AQB) Trading Up 8.1%

Aquabounty Technologies Inc (NASDAQ:AQB) was up 8.1% on Friday . The company traded as high as $3.07 and last traded at $3.07. Approximately 149,797 shares traded hands during trading, a decline of 43% from the average daily volume of 260,944 shares. The stock had previously closed at $2.84.

AQB has been the subject of several recent analyst reports. HC Wainwright set a $4.00 price target on Aquabounty Technologies and gave the company a “buy” rating in a research note on Thursday, March 28th. Zacks Investment Research lowered Aquabounty Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday, March 20th. Finally, National Securities cut their price target on Aquabounty Technologies from $6.50 to $5.50 and set a “buy” rating for the company in a research note on Wednesday, March 20th.

The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.10 and a current ratio of 7.24. The firm’s 50 day moving average price is $2.32. The firm has a market cap of $66.31 million, a PE ratio of -3.27 and a beta of 0.34.

Aquabounty Technologies (NASDAQ:AQB) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.18) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.01. Aquabounty Technologies had a negative return on equity of 44.38% and a negative net margin of 6,521.95%. The company had revenue of $0.10 million for the quarter, compared to analysts’ expectations of $0.21 million. On average, analysts predict that Aquabounty Technologies Inc will post -0.53 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the stock. Third Security LLC boosted its holdings in Aquabounty Technologies by 20.4% in the 4th quarter. Third Security LLC now owns 9,076,753 shares of the company’s stock worth $18,607,000 after buying an additional 1,538,461 shares during the last quarter. PFG Advisors acquired a new position in shares of Aquabounty Technologies during the 4th quarter worth approximately $33,000. Nikko Asset Management Americas Inc. acquired a new position in shares of Aquabounty Technologies during the 1st quarter worth approximately $352,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Aquabounty Technologies during the 1st quarter worth approximately $331,000. Finally, Actinver Wealth Management Inc. acquired a new position in shares of Aquabounty Technologies during the 4th quarter worth approximately $69,000. Institutional investors own 49.82% of the company’s stock.

About Aquabounty Technologies (NASDAQ:AQB)

AquaBounty Technologies, Inc, a biotechnology company, develops and markets products to enhance productivity in aquaculture. It offers AquAdvantage Salmon, a genetically modified Atlantic salmon for human consumption. The company was formerly known as Aqua Bounty Farms, Inc and changed its name to AquaBounty Technologies, Inc in June 2004.

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