Zacks Investment Research upgraded shares of Aquabounty Technologies (NASDAQ:AQB) from a sell rating to a hold rating in a report released on Thursday morning.
According to Zacks, “AquaBounty Technologies, Inc. is a biotechnology company. It focused on enhancing productivity in aquaculture. The company operates primarily in Maynard, Massachusetts and Fortune, Prince Edward Island. AquaBounty Technologies, Inc. is based in Maynard, United States. “
Separately, HC Wainwright started coverage on Aquabounty Technologies in a report on Thursday, June 28th. They set a buy rating and a $3.75 price objective for the company.
Aquabounty Technologies (NASDAQ:AQB) last issued its quarterly earnings data on Tuesday, August 7th. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.03). The business had revenue of $0.05 million during the quarter, compared to analysts’ expectations of $0.02 million. sell-side analysts forecast that Aquabounty Technologies will post -0.78 EPS for the current fiscal year.
A hedge fund recently raised its stake in Aquabounty Technologies stock. ARK Investment Management LLC grew its stake in shares of Aquabounty Technologies Inc (NASDAQ:AQB) by 81.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 170,697 shares of the company’s stock after purchasing an additional 76,458 shares during the period. ARK Investment Management LLC owned about 1.33% of Aquabounty Technologies worth $568,000 as of its most recent filing with the SEC. 62.42% of the stock is currently owned by institutional investors and hedge funds.
About Aquabounty Technologies
AquaBounty Technologies, Inc, a biotechnology company, develops and markets products to enhance productivity in aquaculture. It offers AquAdvantage Salmon, a genetically modified Atlantic salmon for human consumption. The company was formerly known as Aqua Bounty Farms, Inc and changed its name to AquaBounty Technologies, Inc in June 2004.
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