AquaBounty Technologies (NASDAQ:AQB) Posts Earnings Results, Beats Estimates By $1.07 EPS

AquaBounty Technologies (NASDAQ:AQB) announced its 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 Price Performance

AQB stock traded up $0.03 during midday trading on Friday, hitting $0.98. 35,086 shares of the company’s stock were exchanged, compared to its average volume of 72,610. The firm has a 50 day moving average price of $1.08 and a 200-day moving average price of $1.02. AquaBounty Technologies has a 12-month low of $0.77 and a 12-month high of $1.64.

Analysts Set New Price Targets

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 research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has an average rating of “Sell”.

AquaBounty Technologies Company Profile

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.