AquaBounty Technologies (NASDAQ:AQB) Releases Quarterly Earnings Results, Beats Expectations By $1.07 EPS

AquaBounty Technologies (NASDAQ:AQB) posted its quarterly earnings results on Friday. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($1.30) by $1.07, Zacks reports.

AquaBounty Technologies Stock Performance

AQB traded up $0.03 during trading on Friday, hitting $0.98. The stock had a trading volume of 35,086 shares, compared to its average volume of 72,610. The stock has a 50 day simple moving average of $1.08 and a two-hundred day simple moving average of $1.02. AquaBounty Technologies has a twelve month low of $0.77 and a twelve month high of $1.64. The company has a market capitalization of $5.10 million, a PE ratio of -1.19 and a beta of 1.45.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of AquaBounty Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, September 14th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock has an average rating of “Sell”.

About AquaBounty Technologies

AquaBounty Technologies, Inc is a biotechnology and aquaculture company focused on developing and producing land-raised Atlantic salmon. Its principal product is AquAdvantage salmon, a genetically engineered salmon designed to reach market size more quickly than conventional Atlantic salmon. The company has pursued land-based, contained aquaculture systems intended to reduce reliance on ocean-based farming and improve production efficiency.

AquAdvantage salmon incorporates a growth-hormone gene from Chinook salmon and a regulatory sequence from ocean pout.