AquaBounty Technologies (NASDAQ:AQB) Announces Quarterly Earnings Results

AquaBounty Technologies (NASDAQ:AQB) released its quarterly earnings results on Thursday. The company reported ($0.26) earnings per share (EPS) for the quarter, Zacks reports.

AquaBounty Technologies Trading Up 8.1%

Shares of NASDAQ AQB traded up $0.08 during trading hours on Thursday, hitting $1.07. 590,478 shares of the company traded hands, compared to its average volume of 20,370. The company’s 50 day moving average price is $0.99 and its 200 day moving average price is $0.96. AquaBounty Technologies has a 12 month low of $0.70 and a 12 month high of $2.95. The stock has a market capitalization of $5.51 million, a price-to-earnings ratio of -0.90 and a beta of 1.39.

Institutional Investors Weigh In On AquaBounty Technologies

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

Wall Street Analyst Weigh In

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

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.