AquaBounty Technologies (NASDAQ:AQB) Stock Crosses Below 50-Day Moving Average – Here’s What Happened

AquaBounty Technologies, Inc. (NASDAQ:AQB) shares passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $0.99 and traded as low as $0.89. AquaBounty Technologies shares last traded at $0.9899, with a volume of 49,163 shares.

Analysts Set New Price Targets

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

AquaBounty Technologies Stock Performance

The stock has a market capitalization of $6.03 million, a price-to-earnings ratio of -0.98 and a beta of 1.39. The business has a 50-day moving average of $0.99 and a 200-day moving average of $0.96.

AquaBounty Technologies (NASDAQ:AQB) last announced its earnings results on Thursday, August 6th. The company reported ($0.26) EPS for the quarter.

Hedge Funds Weigh In On AquaBounty Technologies

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in AquaBounty Technologies during the 2nd quarter worth approximately $51,000. Renaissance Technologies LLC raised its stake in AquaBounty Technologies by 311.9% in the 4th quarter. Renaissance Technologies LLC now owns 121,585 shares of the company’s stock valued at $113,000 after purchasing an additional 92,065 shares during the last quarter. Finally, Two Sigma Investments LP acquired a new position in shares of AquaBounty Technologies in the third quarter valued at approximately $84,000. 8.92% of the stock is owned by institutional investors and hedge funds.

About AquaBounty Technologies

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.