Aquabounty Technologies (NASDAQ:AQB) Trading Up 10%

Shares of Aquabounty Technologies Inc (NASDAQ:AQB) were up 10% during mid-day trading on Friday . The stock traded as high as $3.32 and last traded at $3.30, approximately 166,493 shares changed hands during trading. A decline of 35% from the average daily volume of 254,764 shares. The stock had previously closed at $3.00.

Several equities analysts recently issued reports on AQB shares. ValuEngine cut Aquabounty Technologies from a “buy” rating to a “hold” rating in a report on Friday. HC Wainwright set a $4.00 price objective on Aquabounty Technologies and gave the stock a “buy” rating in a report on Thursday, July 11th. Finally, National Securities reaffirmed a “buy” rating and set a $5.00 price objective on shares of Aquabounty Technologies in a report on Monday, June 10th.

The stock has a fifty day simple moving average of $3.17. The company has a quick ratio of 7.10, a current ratio of 7.24 and a debt-to-equity ratio of 0.16.

Aquabounty Technologies (NASDAQ:AQB) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.18) earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $0.21 million. As a group, research analysts predict that Aquabounty Technologies Inc will post -0.53 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AQB. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Aquabounty Technologies by 110.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 317,925 shares of the company’s stock worth $976,000 after acquiring an additional 166,991 shares during the last quarter. Nikko Asset Management Americas Inc. purchased a new stake in shares of Aquabounty Technologies in the first quarter valued at $352,000. ARK Investment Management LLC grew its position in shares of Aquabounty Technologies by 13.7% in the first quarter. ARK Investment Management LLC now owns 335,420 shares of the company’s stock valued at $735,000 after purchasing an additional 40,506 shares during the period. Actinver Wealth Management Inc. purchased a new stake in shares of Aquabounty Technologies in the fourth quarter valued at $69,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Aquabounty Technologies in the second quarter valued at $79,000. 49.94% of the stock is owned by institutional investors.

Aquabounty Technologies Company Profile (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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