AquaBounty Technologies (NASDAQ:AQB) Trading Down 2% – Time to Sell?

AquaBounty Technologies, Inc. (NASDAQ:AQB)’s stock price was down 2% during trading on Tuesday . The company traded as low as $0.96 and last traded at $0.97. Approximately 22,034 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 40,329 shares. The stock had previously closed at $0.99.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AquaBounty Technologies in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

AquaBounty Technologies Stock Down 2.0%

The business has a 50-day moving average price of $0.94 and a 200-day moving average price of $1.11. The firm has a market capitalization of $3.76 million, a price-to-earnings ratio of -1.17 and a beta of 1.24.

AquaBounty Technologies (NASDAQ:AQB) last posted its quarterly earnings data on Tuesday, October 28th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.62) by $0.26.

Hedge Funds Weigh In On AquaBounty Technologies

An institutional investor recently bought a new position in AquaBounty Technologies stock. Two Sigma Investments LP acquired a new stake in AquaBounty Technologies, Inc. (NASDAQ:AQB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 37,565 shares of the company’s stock, valued at approximately $84,000. Two Sigma Investments LP owned about 0.97% of AquaBounty Technologies as of its most recent SEC filing. Institutional investors and hedge funds own 8.92% of the company’s stock.

AquaBounty Technologies Company Profile

AquaBounty Technologies, Inc is a biotechnology company focused on aquaculture innovation through the development and commercialization of genetically engineered fish. Its flagship product, AquAdvantage Salmon, is an Atlantic salmon strain enhanced with a growth hormone gene that enables faster growth and more efficient feed conversion compared with conventional farmed salmon. By integrating biotechnology into seafood production, AquaBounty aims to address global protein demand while reducing the environmental footprint associated with marine aquaculture.

Founded in 1991, AquaBounty is headquartered in Maynard, Massachusetts, and operates a state-of-the-art, land-based incubation and grow-out facility in Panama.