Zacks Investment Research cut shares of Aquabounty Technologies (NASDAQ:AQB) from a hold rating to a sell rating in a report released on Friday.
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. “
A number of other analysts also recently issued reports on the stock. HC Wainwright set a $4.00 price target on shares of Aquabounty Technologies and gave the stock a buy rating in a report on Wednesday, November 28th. ValuEngine upgraded shares of Aquabounty Technologies from a hold rating to a buy rating in a report on Wednesday, November 7th.
Aquabounty Technologies (NASDAQ:AQB) last announced its quarterly earnings results on Friday, November 2nd. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.01). The firm had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.14 million. As a group, equities analysts forecast that Aquabounty Technologies will post -0.87 earnings per share for the current year.
A hedge fund recently raised its stake in Aquabounty Technologies stock. ARK Investment Management LLC increased its stake in shares of Aquabounty Technologies Inc (NASDAQ:AQB) by 81.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 170,697 shares of the company’s stock after purchasing an additional 76,458 shares during the period. ARK Investment Management LLC owned approximately 1.33% of Aquabounty Technologies worth $568,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 54.25% of the company’s stock.
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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