AquaBounty Technologies (NASDAQ:AQB) Stock Passes Below 50 Day Moving Average – What’s Next?

Shares of AquaBounty Technologies, Inc. (NASDAQ:AQB) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $0.99 and traded as low as $0.88. AquaBounty Technologies shares last traded at $0.92, with a volume of 11,941 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of AquaBounty Technologies in a report on Wednesday, July 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

AquaBounty Technologies Stock Down 1.0%

The firm has a 50 day moving average of $0.99 and a 200 day moving average of $0.96. The firm has a market cap of $4.69 million, a PE ratio of -0.76 and a beta of 1.37.

Institutional Inflows and Outflows

A hedge fund recently raised its position in AquaBounty Technologies stock. Renaissance Technologies LLC lifted its position in shares of AquaBounty Technologies, Inc. (NASDAQ:AQB) by 311.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 121,585 shares of the company’s stock after acquiring an additional 92,065 shares during the quarter. Renaissance Technologies LLC owned approximately 3.14% of AquaBounty Technologies worth $113,000 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.