Zacks Investment Research downgraded shares of Aquabounty Technologies (NASDAQ:AQB) from a hold rating to a sell rating in a report published 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. “
Several other equities analysts have also recently commented on AQB. HC Wainwright set a $4.00 price target on shares of Aquabounty Technologies and gave the company a buy rating in a research report on Wednesday, November 28th. ValuEngine raised shares of Aquabounty Technologies from a hold rating to a buy rating in a research report on Wednesday, November 7th.
Aquabounty Technologies (NASDAQ:AQB) last issued its quarterly earnings results on Friday, November 2nd. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.01). The business had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.14 million. Analysts expect that Aquabounty Technologies will post -0.87 EPS for the current fiscal year.
An institutional investor recently raised its position in Aquabounty Technologies stock. ARK Investment Management LLC lifted its position in shares of Aquabounty Technologies Inc (NASDAQ:AQB) by 45.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 247,432 shares of the company’s stock after purchasing an additional 76,735 shares during the period. ARK Investment Management LLC owned about 1.93% of Aquabounty Technologies worth $794,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 54.25% of the company’s stock.
Aquabounty Technologies Company Profile
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.
Further Reading: SEC Filing
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