Zacks: Analysts Anticipate Aquabounty Technologies Inc (AQB) Will Announce Quarterly Sales of $140,000.00

Wall Street analysts expect Aquabounty Technologies Inc (NASDAQ:AQB) to post sales of $140,000.00 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Aquabounty Technologies’ earnings, with estimates ranging from $20,000.00 to $260,000.00. The business is expected to issue its next quarterly earnings results on Thursday, November 1st.

According to Zacks, analysts expect that Aquabounty Technologies will report full year sales of $480,000.00 for the current financial year, with estimates ranging from $110,000.00 to $850,000.00. For the next year, analysts forecast that the business will post sales of $1.11 million, with estimates ranging from $600,000.00 to $1.62 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Aquabounty Technologies.

Aquabounty Technologies (NASDAQ:AQB) last posted its earnings results on Tuesday, August 7th. The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.03). The company had revenue of $0.05 million during the quarter, compared to analyst estimates of $0.02 million.

Several equities analysts recently commented on AQB shares. Zacks Investment Research downgraded Aquabounty Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, August 28th. HC Wainwright restated a “buy” rating and set a $4.00 target price on shares of Aquabounty Technologies in a research report on Wednesday, August 8th.

A hedge fund recently raised its stake in Aquabounty Technologies stock. ARK Investment Management LLC raised its holdings in Aquabounty Technologies Inc (NASDAQ:AQB) by 81.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 170,697 shares of the company’s stock after purchasing an additional 76,458 shares during the quarter. ARK Investment Management LLC owned approximately 1.33% of Aquabounty Technologies worth $568,000 as of its most recent SEC filing. 62.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of Aquabounty Technologies stock traded down $0.04 during midday trading on Wednesday, hitting $3.06. 11,400 shares of the company were exchanged, compared to its average volume of 97,606. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.36 and a quick ratio of 3.30. The company has a market capitalization of $41.24 million, a PE ratio of -2.92 and a beta of -2.43. Aquabounty Technologies has a 52 week low of $2.25 and a 52 week high of $9.99.

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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