AquaBounty Technologies (NASDAQ:AQB) Stock Price Up 7% – Time to Buy?

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

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of AquaBounty Technologies in a research note on Wednesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

AquaBounty Technologies Stock Performance

The firm has a market cap of $5.05 million, a P/E ratio of -0.82 and a beta of 1.37. The firm’s fifty day moving average is $0.99 and its 200 day moving average is $0.95.

Hedge Funds Weigh In On AquaBounty Technologies

An institutional investor recently raised its stake in AquaBounty Technologies stock. Renaissance Technologies LLC raised its position in AquaBounty Technologies, Inc. (NASDAQ:AQB) by 311.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,585 shares of the company’s stock after buying an additional 92,065 shares during the quarter. Renaissance Technologies LLC owned 3.14% of AquaBounty Technologies worth $113,000 at the end of the most recent reporting period. 8.92% of the stock is currently owned by 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.