AquaBounty Technologies (NASDAQ:AQB) Announces Earnings Results

AquaBounty Technologies (NASDAQ:AQB) issued its quarterly earnings results on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, Zacks reports.

AquaBounty Technologies Price Performance

Shares of AQB traded up $0.08 during midday trading on Thursday, reaching $1.07. The stock had a trading volume of 590,478 shares, compared to its average volume of 20,370. The company has a market cap of $5.51 million, a price-to-earnings ratio of -0.90 and a beta of 1.39. The company’s fifty day simple moving average is $0.99 and its two-hundred day simple moving average is $0.96. AquaBounty Technologies has a 1-year low of $0.70 and a 1-year high of $2.95.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of AquaBounty Technologies in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in AquaBounty Technologies stock. Two Sigma Investments LP bought a new position in shares of AquaBounty Technologies, Inc. (NASDAQ:AQB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 37,565 shares of the company’s stock, valued at approximately $84,000. Two Sigma Investments LP owned approximately 0.97% of AquaBounty Technologies as of its most recent filing with the SEC. Hedge funds and other institutional investors 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.