AquaBounty Technologies (NASDAQ:AQB) Stock Price Up 8% – Should You Buy?

AquaBounty Technologies, Inc. (NASDAQ:AQB)’s stock price rose 8% on Wednesday . The stock traded as high as $0.93 and last traded at $0.8530. Approximately 46,249 shares traded hands during mid-day trading, an increase of 77% from the average daily volume of 26,089 shares. The stock had previously closed at $0.79.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of AquaBounty Technologies in a report on Monday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, AquaBounty Technologies currently has an average rating of “Sell”.

AquaBounty Technologies Price Performance

The firm has a 50-day simple moving average of $1.08 and a 200 day simple moving average of $1.09. The stock has a market capitalization of $3.31 million, a P/E ratio of -1.03 and a beta of 1.36.

AquaBounty Technologies (NASDAQ:AQB) last announced its quarterly earnings results on Tuesday, October 28th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.62) by $0.26.

Institutional Investors Weigh In On AquaBounty Technologies

An institutional investor recently bought a new position in AquaBounty Technologies stock. Two Sigma Investments LP purchased a new stake in AquaBounty Technologies, Inc. (NASDAQ:AQB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,565 shares of the company’s stock, valued at approximately $84,000. Two Sigma Investments LP owned 0.97% of AquaBounty Technologies at the end of the most recent quarter. 8.92% of the stock is currently owned by hedge funds and other institutional investors.

AquaBounty Technologies Company Profile

AquaBounty Technologies, Inc is a biotechnology company focused on aquaculture innovation through the development and commercialization of genetically engineered fish. Its flagship product, AquAdvantage Salmon, is an Atlantic salmon strain enhanced with a growth hormone gene that enables faster growth and more efficient feed conversion compared with conventional farmed salmon. By integrating biotechnology into seafood production, AquaBounty aims to address global protein demand while reducing the environmental footprint associated with marine aquaculture.

Founded in 1991, AquaBounty is headquartered in Maynard, Massachusetts, and operates a state-of-the-art, land-based incubation and grow-out facility in Panama.