AquaBounty Technologies (NASDAQ:AQB) Shares Up 7% – Here’s Why

AquaBounty Technologies, Inc. (NASDAQ:AQB) traded up 7% during mid-day trading on Friday . The stock traded as high as $0.98 and last traded at $0.98. Approximately 21,332 shares changed hands during trading, a decline of 66% from the average daily volume of 62,198 shares. The stock had previously closed at $0.9157.

Analysts Set New Price Targets

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

AquaBounty Technologies Trading Up 7.0%

The company has a fifty day simple moving average of $0.99 and a 200-day simple moving average of $0.95. The company has a market capitalization of $5.05 million, a PE ratio of -0.82 and a beta of 1.37.

Institutional Investors Weigh In On AquaBounty Technologies

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

About AquaBounty Technologies

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.