AquaBounty Technologies (NASDAQ:AQB) Stock Price Down 8.2%

AquaBounty Technologies, Inc. (NASDAQ:AQB)’s stock price dropped 8.2% on Monday . The stock traded as low as $3.83 and last traded at $3.93. Approximately 658,056 shares changed hands during trading, an increase of 65% from the average daily volume of 399,040 shares. The stock had previously closed at $4.28.

AQB has been the topic of several recent analyst reports. National Securities reissued a “buy” rating and set a $5.00 price target on shares of AquaBounty Technologies in a research report on Monday, August 24th. Zacks Investment Research raised AquaBounty Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, October 7th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $4.00.

The company has a current ratio of 6.74, a quick ratio of 5.48 and a debt-to-equity ratio of 0.14. The stock has a fifty day moving average price of $4.34 and a 200-day moving average price of $3.15. The firm has a market capitalization of $128.82 million, a price-to-earnings ratio of -7.71 and a beta of 0.67.

AquaBounty Technologies (NASDAQ:AQB) last issued its earnings results on Thursday, August 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.11). On average, equities analysts expect that AquaBounty Technologies, Inc. will post -0.38 EPS for the current year.

In other AquaBounty Technologies news, major shareholder Randal J. Kirk purchased 4,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average cost of $2.50 per share, with a total value of $10,000,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders have purchased a total of 4,009,200 shares of company stock valued at $10,023,000 over the last ninety days. Insiders own 2.50% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in AQB. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of AquaBounty Technologies in the 2nd quarter valued at $42,000. UBS Group AG increased its stake in shares of AquaBounty Technologies by 38.8% in the 1st quarter. UBS Group AG now owns 27,017 shares of the company’s stock valued at $44,000 after buying an additional 7,553 shares during the period. PFG Advisors bought a new position in shares of AquaBounty Technologies in the 3rd quarter worth $47,000. DORCHESTER WEALTH MANAGEMENT Co bought a new position in shares of AquaBounty Technologies in the 3rd quarter worth $67,000. Finally, Advisor Group Holdings Inc. bought a new position in shares of AquaBounty Technologies in the 1st quarter worth $105,000. 60.63% of the stock is owned by hedge funds and other institutional investors.

AquaBounty Technologies Company Profile (NASDAQ:AQB)

AquaBounty Technologies, Inc develops and markets products to enhance productivity in land-based aquaculture. It offers AquAdvantage Salmon, a bioengineered 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.

Further Reading: Analyst Ratings Trading

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