AquaBounty Technologies (NASDAQ:AQB) Shares Down 8.6%


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Shares of AquaBounty Technologies, Inc. (NASDAQ:AQB) were down 8.6% on Tuesday . The company traded as low as $6.35 and last traded at $7.37. Approximately 4,683,638 shares traded hands during mid-day trading, an increase of 18% from the average daily volume of 3,975,827 shares. The stock had previously closed at $8.06.

A number of analysts recently commented on AQB shares. Lake Street Capital increased their price target on AquaBounty Technologies from $5.00 to $9.00 in a research report on Friday, December 11th. National Securities reaffirmed a “buy” rating and set a $5.00 price target on shares of AquaBounty Technologies in a research report on Wednesday, November 4th.

The company has a market cap of $519.19 million, a P/E ratio of -15.30 and a beta of 1.27. The company has a 50 day moving average of $9.93 and a 200-day moving average of $6.98. The company has a debt-to-equity ratio of 0.14, a current ratio of 18.33 and a quick ratio of 17.10.

In other news, Director Richard L. Huber purchased 10,000 shares of the company’s stock in a transaction on Monday, December 14th. The stock was purchased at an average price of $6.50 per share, with a total value of $65,000.00. Following the completion of the purchase, the director now directly owns 71,311 shares in the company, valued at approximately $463,521.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 42.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Third Security LLC increased its holdings in AquaBounty Technologies by 28.1% during the 3rd quarter. Third Security LLC now owns 18,253,912 shares of the company’s stock valued at $81,778,000 after purchasing an additional 4,000,000 shares during the period. ARK Investment Management LLC increased its holdings in AquaBounty Technologies by 243.8% during the 3rd quarter. ARK Investment Management LLC now owns 3,860,659 shares of the company’s stock valued at $17,296,000 after purchasing an additional 2,737,674 shares during the period. BlackRock Inc. increased its holdings in AquaBounty Technologies by 676.0% during the 3rd quarter. BlackRock Inc. now owns 590,893 shares of the company’s stock valued at $2,648,000 after purchasing an additional 514,747 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in AquaBounty Technologies by 13.3% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 196,788 shares of the company’s stock valued at $1,724,000 after purchasing an additional 23,029 shares during the period. Finally, Nikko Asset Management Americas Inc. increased its holdings in AquaBounty Technologies by 13.3% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 196,788 shares of the company’s stock valued at $1,724,000 after purchasing an additional 23,029 shares during the period. Hedge funds and other institutional investors own 60.01% of the company’s stock.

About AquaBounty Technologies (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.

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