AquaBounty Technologies (NASDAQ:AQB) Announces Earnings Results

AquaBounty Technologies (NASDAQ:AQB) released its quarterly earnings results on Thursday. The company reported ($0.20) earnings per share for the quarter, Zacks reports.

AquaBounty Technologies Stock Down 1.1%

AQB stock traded down $0.01 during midday trading on Friday, reaching $0.94. 27,691 shares of the company’s stock traded hands, compared to its average volume of 34,132. The company has a 50-day simple moving average of $0.94 and a two-hundred day simple moving average of $0.98. AquaBounty Technologies has a 1-year low of $0.63 and a 1-year high of $2.95. The company has a market cap of $4.84 million, a price-to-earnings ratio of -1.13 and a beta of 1.36.

Institutional Investors Weigh In On AquaBounty Technologies

A hedge fund recently raised its stake in AquaBounty Technologies stock. Renaissance Technologies LLC increased its stake in AquaBounty Technologies, Inc. (NASDAQ:AQB) by 311.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 121,585 shares of the company’s stock after purchasing an additional 92,065 shares during the period. Renaissance Technologies LLC owned 3.14% of AquaBounty Technologies worth $113,000 as of its most recent SEC filing. 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.